Brokerages Set Lamar Advertising (NASDAQ:LAMR) Price Target at $132.40

Lamar Advertising (NASDAQ:LAMR) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $132.40.

Several analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. TD Cowen lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley upped their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $121.37 on Friday. The stock has a 50 day simple moving average of $129.83 and a 200 day simple moving average of $125.65. The stock has a market cap of $12.42 billion, a P/E ratio of 24.27 and a beta of 1.50. Lamar Advertising has a 1-year low of $100.15 and a 1-year high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $2.04 earnings per share. Research analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.61%. Lamar Advertising’s payout ratio is 112.00%.

Institutional Trading of Lamar Advertising

Several institutional investors and hedge funds have recently bought and sold shares of LAMR. Blue Trust Inc. increased its holdings in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising in the third quarter valued at approximately $25,000. Whittier Trust Co. raised its position in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares during the period. Concord Wealth Partners purchased a new stake in Lamar Advertising in the 3rd quarter valued at $26,000. Finally, Assetmark Inc. increased its position in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 117 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

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.