StockNews.com Downgrades Lamar Advertising (NASDAQ:LAMR) to Hold

StockNews.com cut shares of Lamar Advertising (NASDAQ:LAMR) from a buy rating to a hold rating in a research note released on Thursday.

LAMR has been the subject of a number of other research reports. Wells Fargo & Company started coverage on Lamar Advertising in a research note on Thursday, September 19th. They issued an equal weight rating and a $132.00 price objective for the company. TD Cowen raised their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a buy rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their target price 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, Citigroup lowered 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $125.00.

Lamar Advertising Trading Up 1.7 %

Shares of Lamar Advertising stock opened at $133.74 on Thursday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The company has a fifty day simple moving average of $125.53 and a 200-day simple moving average of $120.09. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of 27.46 and a beta of 1.52. Lamar Advertising has a 12-month low of $79.94 and a 12-month high of $137.40.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. During the same quarter in the prior year, the company earned $1.90 EPS. The business’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.19%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising’s payout ratio is 114.99%.

Institutional Investors Weigh In On Lamar Advertising

A number of institutional investors have recently added to or reduced their stakes in LAMR. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Lamar Advertising in the 1st quarter valued at approximately $25,000. Whittier Trust Co. boosted its position in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Lamar Advertising during the 1st quarter worth $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Lamar Advertising in the 2nd quarter valued at about $30,000. Finally, Quarry LP increased its holdings in shares of Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. 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.