Lamar Advertising (NASDAQ:LAMR) Sets New 52-Week High at $132.28

Lamar Advertising (NASDAQ:LAMR) hit a new 52-week high on Thursday . The company traded as high as $132.28 and last traded at $132.01, with a volume of 130555 shares. The stock had previously closed at $130.95.

Analyst Upgrades and Downgrades

A number of analysts have commented on LAMR shares. JPMorgan Chase & Co. upped their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen raised their target price 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 lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Thursday, July 11th. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Finally, Wells Fargo & Company initiated coverage on shares of Lamar Advertising in a research report on Thursday. They set an “equal weight” rating and a $132.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $125.00.

Lamar Advertising Trading Up 0.5 %

The stock has a market capitalization of $13.46 billion, a PE ratio of 26.89 and a beta of 1.52. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The firm has a 50 day moving average price of $120.89 and a 200 day moving average price of $118.22.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. Lamar Advertising’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. Equities analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.25%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 114.99%.

Hedge Funds Weigh In On Lamar Advertising

Several institutional investors have recently modified their holdings of LAMR. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Lamar Advertising during the 1st quarter valued at $25,000. Whittier Trust Co. raised its position in Lamar Advertising by 144.4% in 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. Fidelis Capital Partners LLC purchased a new position in Lamar Advertising in the first quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new position in Lamar Advertising in the second quarter valued at about $30,000. Finally, Quarry LP grew its position in shares of Lamar Advertising by 70.4% during the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 133 shares during the period. 93.78% of the stock is owned by 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.