JPMorgan Chase & Co. Issues Positive Forecast for Lamar Advertising (NASDAQ:LAMR) Stock Price

Lamar Advertising (NASDAQ:LAMR) had its target price lifted by JPMorgan Chase & Co. from $160.00 to $161.00 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research note on Wednesday, August 19th. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and upped their price objective for the company from $145.00 to $160.00 in a research note on Friday, July 10th. Wells Fargo & Company increased their price objective on shares of Lamar Advertising from $156.00 to $158.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Morgan Stanley set a $170.00 target price on shares of Lamar Advertising in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.50.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $155.99 on Friday. The business has a fifty day moving average price of $149.76 and a 200 day moving average price of $145.35. Lamar Advertising has a one year low of $120.54 and a one year high of $166.33. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $15.84 billion, a P/E ratio of 27.51 and a beta of 1.23.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.58. Lamar Advertising had a net margin of 24.36% and a return on equity of 57.12%. The company had revenue of $616.75 million for the quarter, compared to analysts’ expectations of $606.61 million. Research analysts anticipate that Lamar Advertising will post 8.40 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were given a $1.65 dividend. The ex-dividend date was Monday, September 21st. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.60. This represents a $6.60 annualized dividend and a yield of 4.2%. Lamar Advertising’s dividend payout ratio (DPR) is currently 120.44%.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, Director Thomas Reifenheiser sold 8,099 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $149.03, for a total transaction of $1,206,993.97. Following the completion of the sale, the director owned 36,387 shares of the company’s stock, valued at $5,422,754.61. This trade represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lamar Advertising

A number of hedge funds have recently modified their holdings of the business. Trillium Asset Management LLC grew its holdings in shares of Lamar Advertising by 0.5% in the third quarter. Trillium Asset Management LLC now owns 54,114 shares of the real estate investment trust’s stock valued at $7,798,000 after purchasing an additional 271 shares in the last quarter. Ibex Wealth Advisors increased its stake in Lamar Advertising by 3.7% during the 3rd quarter. Ibex Wealth Advisors now owns 64,433 shares of the real estate investment trust’s stock worth $9,285,000 after buying an additional 2,284 shares during the period. Allworth Financial LP increased its stake in Lamar Advertising by 24.6% during the 3rd quarter. Allworth Financial LP now owns 2,602 shares of the real estate investment trust’s stock worth $406,000 after buying an additional 513 shares during the period. Russell Investments Group Ltd. increased its stake in Lamar Advertising by 116.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 138,653 shares of the real estate investment trust’s stock worth $19,983,000 after buying an additional 74,539 shares during the period. Finally, IAG Wealth Partners LLC acquired a new stake in Lamar Advertising during the 3rd quarter worth approximately $58,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Company Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations.

The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.

Lamar is led by Chief Executive Officer Sean Reilly.