Lamar Advertising Company (NASDAQ:LAMR) Receives $134.20 Consensus Target Price from Brokerages

Lamar Advertising Company (NASDAQ:LAMR) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $134.20.

LAMR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Morgan Stanley raised their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Wells Fargo & Company lowered their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Lamar Advertising in a report on Wednesday, October 8th.

Lamar Advertising Stock Up 0.1%

Shares of LAMR opened at $119.60 on Wednesday. The firm has a 50 day simple moving average of $122.78 and a two-hundred day simple moving average of $121.14. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising has a one year low of $99.84 and a one year high of $136.89. The company has a market cap of $12.11 billion, a P/E ratio of 27.81 and a beta of 1.37.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The company had revenue of $579.31 million during the quarter, compared to analysts’ expectations of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Research analysts forecast that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, September 19th. Lamar Advertising’s payout ratio is 144.19%.

Insider Transactions at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 14.99% 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 LAMR. True Wealth Design LLC grew its stake in shares of Lamar Advertising by 466.7% in the second quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 168 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Lamar Advertising in the 3rd quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of Lamar Advertising in the third quarter valued at about $27,000. 1248 Management LLC acquired a new stake in shares of Lamar Advertising in the first quarter valued at about $26,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Lamar Advertising during the second quarter worth about $28,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

About Lamar Advertising

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.