Lamar Advertising Company (LAMR) PT Lowered to $72.00 at MKM Partners
Lamar Advertising Company (NASDAQ:LAMR) had its price objective decreased by MKM Partners from $73.00 to $72.00 in a research note published on Monday, May 15th, StockTargetPrices.com reports. MKM Partners currently has a neutral rating on the real estate investment trust’s stock.
LAMR has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) raised shares of Lamar Advertising Company from a neutral rating to a buy rating and set a $80.00 price target on the stock in a research report on Tuesday, January 17th. Zacks Investment Research lowered shares of Lamar Advertising Company from a hold rating to a sell rating in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $74.60.
Shares of Lamar Advertising Company (NASDAQ:LAMR) traded up 2.67% during mid-day trading on Monday, reaching $73.72. The company had a trading volume of 1,157,570 shares. Lamar Advertising Company has a one year low of $58.68 and a one year high of $79.09. The stock has a 50 day moving average of $70.58 and a 200-day moving average of $72.33. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 25.09 and a beta of 1.21.
Lamar Advertising Company (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by $0.49. The firm had revenue of $346.40 million for the quarter, compared to the consensus estimate of $347.06 million. Lamar Advertising Company had a net margin of 19.18% and a return on equity of 27.42%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. Equities analysts predict that Lamar Advertising Company will post $3.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.50%. Lamar Advertising Company’s dividend payout ratio is presently 112.93%.
In other Lamar Advertising Company news, Director Stephen P. Mumblow sold 20,000 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total value of $1,412,200.00. Following the completion of the sale, the director now owns 5,970 shares in the company, valued at approximately $421,541.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Anna Reilly sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $74.83, for a total transaction of $3,741,500.00. Following the transaction, the director now directly owns 141,859 shares of the company’s stock, valued at $10,615,308.97. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock worth $7,090,450 in the last 90 days. 18.66% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAMR. Group One Trading L.P. bought a new position in Lamar Advertising Company during the fourth quarter worth $114,000. Penserra Capital Management LLC bought a new position in Lamar Advertising Company during the first quarter worth $169,000. Cigna Investments Inc. New bought a new position in Lamar Advertising Company during the fourth quarter worth $204,000. BB&T Securities LLC bought a new position in Lamar Advertising Company during the third quarter worth $214,000. Finally, Creative Planning increased its position in Lamar Advertising Company by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 290 shares in the last quarter. 86.55% of the stock is owned by hedge funds and other institutional investors.
About Lamar Advertising Company
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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