Brokerages Set Lamar Advertising Co. (NASDAQ:LAMR) Price Target at $65.14
Lamar Advertising Co. (NASDAQ:LAMR) has been assigned a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $65.14.
Several brokerages have issued reports on LAMR. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Loop Capital initiated coverage on shares of Lamar Advertising in a research report on Monday, September 12th. They set a “buy” rating on the stock. Finally, Gabelli cut shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a research report on Thursday, July 21st.
A number of hedge funds and other institutional investors have recently bought and sold shares of LAMR. Chesley Taft & Associates LLC boosted its position in Lamar Advertising by 0.3% in the second quarter. Chesley Taft & Associates LLC now owns 14,400 shares of the company’s stock worth $955,000 after buying an additional 50 shares during the last quarter. Baird Financial Group Inc. boosted its position in Lamar Advertising by 1.4% in the second quarter. Baird Financial Group Inc. now owns 4,785 shares of the company’s stock worth $318,000 after buying an additional 65 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in Lamar Advertising by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,231 shares of the company’s stock worth $944,000 after buying an additional 69 shares during the last quarter. Regent Investment Management LLC boosted its position in Lamar Advertising by 0.8% in the second quarter. Regent Investment Management LLC now owns 12,975 shares of the company’s stock worth $860,000 after buying an additional 100 shares during the last quarter. Finally, IBM Retirement Fund boosted its position in Lamar Advertising by 1.4% in the second quarter. IBM Retirement Fund now owns 8,285 shares of the company’s stock worth $549,000 after buying an additional 117 shares during the last quarter. 80.05% of the stock is currently owned by institutional investors.
Lamar Advertising (NASDAQ:LAMR) opened at 63.92 on Wednesday. The stock has a market cap of $6.23 billion, a P/E ratio of 21.05 and a beta of 1.69. The firm’s 50-day moving average is $63.17 and its 200-day moving average is $63.72. Lamar Advertising has a 52-week low of $49.73 and a 52-week high of $69.35.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Tuesday, August 9th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Lamar Advertising had a net margin of 20.64% and a return on equity of 28.94%. The company had revenue of $387.50 million for the quarter, compared to analysts’ expectations of $384.09 million. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Equities research analysts predict that Lamar Advertising will post $3.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $3.04 dividend on an annualized basis and a yield of 4.76%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.75. Lamar Advertising’s dividend payout ratio is presently 99.67%.
Lamar Advertising Company Profile
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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