Lamar Advertising (NASDAQ:LAMR) Downgraded 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 Tuesday morning.

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

Lamar Advertising Stock Down 0.2 %

NASDAQ LAMR opened at $131.30 on Tuesday. The stock’s 50 day simple moving average is $123.93 and its 200 day simple moving average is $119.41. Lamar Advertising has a one year low of $77.21 and a one year high of $137.40. The firm has a market cap of $13.42 billion, a PE ratio of 26.96 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 announced its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $564.96 million. During the same quarter in the previous year, the company posted $1.90 EPS. Lamar Advertising’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 114.99%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its stake in Lamar Advertising by 5.7% in the third quarter. Park Avenue Securities LLC now owns 3,011 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 163 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Lamar Advertising in the 3rd quarter valued at approximately $1,067,000. Sanctuary Advisors LLC bought a new position in Lamar Advertising during the 2nd quarter worth approximately $1,781,000. Quarry LP grew its holdings in Lamar Advertising by 178.8% during the second quarter. Quarry LP now owns 1,207 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 774 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Lamar Advertising by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,999 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 269 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

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.