TD Cowen Issues Positive Forecast for Lamar Advertising (NASDAQ:LAMR) Stock Price

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

LAMR has been the topic of a number of other research reports. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on 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 increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Wells Fargo & Company began coverage on shares of Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Trading Down 1.6 %

Shares of LAMR stock traded down $2.04 on Monday, hitting $128.00. The company had a trading volume of 48,032 shares, compared to its average volume of 403,930. The stock’s 50-day moving average is $131.84 and its two-hundred day moving average is $123.08. Lamar Advertising has a twelve month low of $91.20 and a twelve month high of $139.88. The firm has a market cap of $13.09 billion, a P/E ratio of 26.01 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $2.04 EPS. On average, equities research analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors 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 dividend yield of 4.38%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LAMR. Vanguard Group Inc. lifted its position in shares of Lamar Advertising by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after purchasing an additional 68,484 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Lamar Advertising by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after acquiring an additional 75,955 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Lamar Advertising by 81.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after acquiring an additional 420,311 shares during the period. Centersquare Investment Management LLC boosted its stake in Lamar Advertising by 82.8% during the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after acquiring an additional 281,582 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Lamar Advertising by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust’s stock worth $67,664,000 after purchasing an additional 22,382 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

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.