Lamar Advertising (NASDAQ:LAMR) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Lamar Advertising (NASDAQ:LAMR) from a buy rating to a hold rating in a report released on Thursday.

Other equities analysts also recently issued research reports about the company. TD Cowen raised their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a buy rating in a research report on Friday, August 9th. Citigroup downgraded shares of Lamar Advertising from a buy rating to a neutral rating and set a $122.00 target price for the company. in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company started coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They issued an equal weight rating and a $132.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $125.00.

Lamar Advertising Trading Up 1.7 %

NASDAQ:LAMR opened at $133.74 on Thursday. Lamar Advertising has a 52-week low of $79.94 and a 52-week high of $137.40. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a fifty day simple moving average of $125.53 and a 200-day simple moving average of $120.09. The company has a market capitalization of $13.67 billion, a PE ratio of 27.46 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced 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). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same quarter in the previous year, the firm posted $1.90 EPS. The business’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.19%. Lamar Advertising’s payout ratio is 114.99%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. acquired a new position in Lamar Advertising during the first quarter worth approximately $25,000. Whittier Trust Co. increased its holdings in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Lamar Advertising in the 1st quarter worth $27,000. MFA Wealth Advisors LLC acquired a new position in Lamar Advertising in the second quarter valued at $30,000. Finally, Quarry LP grew its position in Lamar Advertising by 70.4% during the fourth quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 133 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Company Profile

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.