Lamar Advertising (LAMR) Upgraded by BidaskClub to Buy
BidaskClub upgraded shares of Lamar Advertising (NASDAQ:LAMR) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.
A number of other equities research analysts have also recently issued reports on LAMR. ValuEngine raised shares of Lamar Advertising from a hold rating to a buy rating in a report on Thursday, August 10th. MKM Partners decreased their price target on shares of Lamar Advertising from $72.00 to $64.00 and set a neutral rating on the stock in a report on Wednesday, August 9th. Citigroup reaffirmed a neutral rating and issued a $66.00 price target (down previously from $69.00) on shares of Lamar Advertising in a report on Friday, August 11th. Finally, Morgan Stanley decreased their price target on shares of Lamar Advertising from $75.00 to $68.00 and set an equal weight rating on the stock in a report on Monday, September 18th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Lamar Advertising has an average rating of Hold and an average price target of $73.00.
Shares of Lamar Advertising (NASDAQ LAMR) traded down $0.01 during mid-day trading on Thursday, reaching $76.57. 514,324 shares of the company’s stock were exchanged, compared to its average volume of 596,297. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.55 and a quick ratio of 1.55. Lamar Advertising has a 1-year low of $62.45 and a 1-year high of $79.09. The company has a market cap of $6,430.00, a PE ratio of 15.24, a price-to-earnings-growth ratio of 5.25 and a beta of 1.15.
Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.34). Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. The business had revenue of $399.30 million for the quarter, compared to the consensus estimate of $392.10 million. During the same period in the previous year, the firm earned $0.87 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. analysts forecast that Lamar Advertising will post 4.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $3.32 annualized dividend and a dividend yield of 4.34%. Lamar Advertising’s payout ratio is currently 105.06%.
Institutional investors have recently added to or reduced their stakes in the company. Westpac Banking Corp bought a new position in shares of Lamar Advertising in the second quarter worth $176,000. San Francisco Sentry Investment Group CA purchased a new position in Lamar Advertising in the third quarter worth $164,000. Penserra Capital Management LLC grew its position in Lamar Advertising by 9.5% in the second quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 214 shares in the last quarter. Verity Asset Management Inc. purchased a new position in Lamar Advertising in the second quarter worth $204,000. Finally, Argent Trust Co purchased a new position in Lamar Advertising in the third quarter worth $207,000. 84.42% of the stock is currently owned by hedge funds and other institutional investors.
About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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