Lamar Advertising (NASDAQ:LAMR) Sets New 12-Month High at $126.86

Shares of Lamar Advertising (NASDAQ:LAMR) reached a new 52-week high on Thursday . The company traded as high as $126.86 and last traded at $126.84, with a volume of 258542 shares. The stock had previously closed at $124.57.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LAMR shares. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Thursday, July 11th. TD Cowen raised their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.25.

Lamar Advertising Price Performance

The company’s 50 day simple moving average is $120.15 and its 200 day simple moving average is $117.73. The stock has a market cap of $13.24 billion, a P/E ratio of 26.58 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The business had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. Lamar Advertising’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. As a group, equities analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.33%. Lamar Advertising’s dividend payout ratio is presently 106.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in Lamar Advertising during the 4th quarter worth approximately $111,255,000. Morningstar Investment Services LLC boosted its holdings in Lamar Advertising by 97.6% during the fourth quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after purchasing an additional 451,429 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Lamar Advertising by 81.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after purchasing an additional 420,311 shares in the last quarter. Norges Bank acquired a new stake in Lamar Advertising in the 4th quarter valued at $38,406,000. Finally, Centersquare Investment Management LLC lifted its position in Lamar Advertising by 1,252.8% during the 4th quarter. Centersquare Investment Management LLC now owns 340,181 shares of the real estate investment trust’s stock worth $36,154,000 after buying an additional 315,034 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.