Lamar Advertising (NASDAQ:LAMR) Upgraded to Buy by StockNews.com

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

LAMR has been the subject of a number of other research reports. TD Cowen upped their price objective on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company assumed 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 on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.00.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $136.10 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 12 month low of $79.94 and a 12 month high of $139.88. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 27.95 and a beta of 1.52. The company’s 50 day moving average is $128.20 and its two-hundred day moving average is $120.94.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data 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). The firm had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. As a group, research analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.11%. Lamar Advertising’s dividend payout ratio (DPR) is 114.99%.

Institutional Investors Weigh In On Lamar Advertising

A number of hedge funds have recently bought and sold shares of the business. Foundations Investment Advisors LLC grew its stake in shares of Lamar Advertising by 2.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock worth $500,000 after buying an additional 80 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its holdings in shares of Lamar Advertising by 6.6% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 84 shares during the last quarter. Global Retirement Partners LLC grew its position in Lamar Advertising by 1.0% in the third quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock worth $1,329,000 after acquiring an additional 97 shares in the last quarter. SPC Financial Inc. increased its stake in Lamar Advertising by 3.6% during the first quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock worth $359,000 after acquiring an additional 103 shares during the last quarter. Finally, Woodward Diversified Capital LLC raised its position in Lamar Advertising by 2.6% during the first quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

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.