Lamar Advertising (NASDAQ:LAMR) Reaches New 12-Month High – Should You Buy?

Shares of Lamar Advertising (NASDAQ:LAMR) reached a new 52-week high during trading on Tuesday . The company traded as high as $137.42 and last traded at $136.90, with a volume of 30058 shares traded. The stock had previously closed at $136.24.

Analysts Set New Price Targets

Several equities research analysts recently commented on LAMR shares. JPMorgan Chase & Co. boosted their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. TD Cowen raised their target price on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company started coverage on Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research note on Thursday, July 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $125.00.

Lamar Advertising Stock Performance

The firm’s 50-day simple moving average is $126.04 and its two-hundred day simple moving average is $120.22. The stock has a market capitalization of $14.12 billion, a PE ratio of 28.44 and a beta of 1.52. 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 (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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $564.96 million. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.05%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is 114.99%.

Institutional Investors Weigh In On Lamar Advertising

Several institutional investors have recently made changes to their positions in LAMR. Financial Synergies Wealth Advisors Inc. bought a new stake in Lamar Advertising in the first quarter worth approximately $25,000. Whittier Trust Co. boosted its holdings 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 purchasing an additional 130 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Lamar Advertising during the first quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in shares of Lamar Advertising in the 2nd quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC raised its position in shares of Lamar Advertising by 85.8% in the first quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 145 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

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.