Lamar Advertising (NASDAQ:LAMR) Given New $160.00 Price Target at TD Cowen

Lamar Advertising (NASDAQ:LAMR) had its target price increased by TD Cowen from $142.00 to $160.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company began coverage on 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. 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 note on Wednesday, July 31st. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Stock Down 0.5 %

LAMR opened at $128.25 on Monday. The business has a 50 day moving average of $131.93 and a 200-day moving average of $123.19. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 25.65 and a beta of 1.52. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 1-year low of $94.71 and a 1-year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. During the same period last year, the company earned $2.04 earnings per share. Lamar Advertising’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.37%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 112.00%.

Institutional Trading of Lamar Advertising

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Lamar Advertising by 25.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,628 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 535 shares in the last quarter. Empowered Funds LLC boosted its position in Lamar Advertising by 17.2% in the 1st quarter. Empowered Funds LLC now owns 13,115 shares of the real estate investment trust’s stock valued at $1,566,000 after buying an additional 1,929 shares during the last quarter. Sei Investments Co. raised its position in shares of Lamar Advertising by 31.2% during the first quarter. Sei Investments Co. now owns 16,085 shares of the real estate investment trust’s stock worth $1,921,000 after acquiring an additional 3,829 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Lamar Advertising by 79.1% during the 1st quarter. Russell Investments Group Ltd. now owns 123,138 shares of the real estate investment trust’s stock worth $14,703,000 after purchasing an additional 54,390 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in Lamar Advertising by 22.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,107 shares of the real estate investment trust’s stock valued at $1,923,000 after purchasing an additional 2,912 shares during the period. 93.78% of the stock is currently 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.