Lamar Advertising’s (LAMR) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Lamar Advertising (NASDAQ:LAMR) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $153.00 price objective on the real estate investment trust’s stock.

LAMR has been the topic of several other reports. Morgan Stanley set a $145.00 target price on Lamar Advertising in a report on Thursday, May 7th. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and upped their price target for the stock from $145.00 to $160.00 in a report on Friday, July 10th. TD Cowen increased their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Wells Fargo & Company lifted their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $154.67.

Lamar Advertising Stock Up 1.1%

Shares of NASDAQ LAMR opened at $159.46 on Wednesday. Lamar Advertising has a 52-week low of $113.66 and a 52-week high of $164.38. The stock has a market capitalization of $16.18 billion, a PE ratio of 29.42 and a beta of 1.19. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. The firm has a fifty day moving average of $154.55 and a 200-day moving average of $140.64.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. The firm had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. On average, analysts anticipate that Lamar Advertising will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.0%. Lamar Advertising’s payout ratio is 118.08%.

Institutional Trading of Lamar Advertising

A number of hedge funds have recently made changes to their positions in the stock. M&T Bank Corp raised its holdings in Lamar Advertising by 12,278.7% in the fourth quarter. M&T Bank Corp now owns 1,147,876 shares of the real estate investment trust’s stock valued at $145,298,000 after acquiring an additional 1,138,603 shares in the last quarter. Norges Bank acquired a new position in Lamar Advertising during the 4th quarter worth $104,705,000. AQR Capital Management LLC grew its holdings in Lamar Advertising by 123.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock worth $177,152,000 after acquiring an additional 816,217 shares in the last quarter. Invesco Ltd. increased its position in shares of Lamar Advertising by 97.8% in the 3rd quarter. Invesco Ltd. now owns 991,990 shares of the real estate investment trust’s stock worth $121,439,000 after purchasing an additional 490,463 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Lamar Advertising by 23.9% in the 3rd quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust’s stock worth $199,490,000 after purchasing an additional 314,235 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Company Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.