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

Lamar Advertising Company (NASDAQ:LAMR)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $164.73 and last traded at $164.5150, with a volume of 317117 shares. The stock had previously closed at $162.21.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Morgan Stanley set a $145.00 price target on shares of Lamar Advertising in a research report on Thursday, May 7th. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and boosted their price target for the company from $145.00 to $160.00 in a report on Friday, July 10th. TD Cowen upped their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $153.00 price objective on shares of Lamar Advertising in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Lamar Advertising has a consensus rating of “Hold” and an average target price of $154.67.

Lamar Advertising Trading Up 1.7%

The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 30.40 and a beta of 1.19. The business’s fifty day moving average is $155.07 and its 200 day moving average is $141.24. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.18. The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. Equities analysts predict that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising’s dividend payout ratio is currently 118.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sivia Capital Partners LLC acquired a new position in Lamar Advertising during the 2nd quarter worth approximately $510,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Lamar Advertising by 250.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 47,604 shares of the real estate investment trust’s stock valued at $5,777,000 after purchasing an additional 34,002 shares during the last quarter. Amundi lifted its position in shares of Lamar Advertising by 224.6% in the second quarter. Amundi now owns 2,048 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 1,417 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Lamar Advertising in the second quarter worth $873,000. Finally, Cerity Partners LLC boosted its holdings in Lamar Advertising by 39.0% during the second quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust’s stock worth $4,510,000 after purchasing an additional 10,423 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Company Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.