Lamar Advertising (NASDAQ:LAMR) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Lamar Advertising (NASDAQ:LAMR) from a buy rating to a hold rating in a report issued on Thursday morning.

LAMR has been the topic of several other research reports. TD Cowen upped their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a buy rating in a report on Friday, August 9th. Citigroup downgraded Lamar Advertising from a buy rating to a neutral rating and set a $122.00 price target on the stock. in a report on Thursday, July 11th. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on Lamar Advertising in a report on Thursday, September 19th. They set an equal weight rating and a $132.00 price target on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Lamar Advertising presently has a consensus rating of Hold and an average price target of $125.00.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $133.74 on Thursday. The business’s fifty day simple moving average is $125.53 and its 200-day simple moving average is $120.06. Lamar Advertising has a 52 week low of $79.94 and a 52 week high of $137.40. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The firm has a market cap of $13.67 billion, a PE ratio of 27.46 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same period in the previous year, the company posted $1.90 EPS. Lamar Advertising’s revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 114.99%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. purchased a new position in Lamar Advertising during the 1st quarter worth approximately $25,000. Whittier Trust Co. grew its stake in shares of Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Lamar Advertising in the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Lamar Advertising in the 2nd quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC grew its stake in shares of Lamar Advertising by 85.8% in the 1st 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 last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

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.