Zacks Investment Research Lowers Lamar Advertising (LAMR) to Hold
Lamar Advertising (NASDAQ:LAMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Shares of Lamar have outperformed its industry, over the past year. Moreover, the stock has seen the Zacks Consensus Estimate for 2017 funds from operations (FFO) per share remaining unchanged in a months’ time. Notably, Lamar’s strong national presence, tenants from diverse industries and valuable permits augur well for its growth. Moreover, the company’s strategy to focus on portfolio upgradation and expansion is expected to drive long-term profitability. Nonetheless, the gloomy environment in the national advertising market remains a concern for the company. Further, high investment expenditures for acquisitions are likely to take a toll on Lamar’s balance sheet.”
Several other research firms have also recently commented on LAMR. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Citigroup cut Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price target for the company. in a report on Wednesday, December 20th. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Morgan Stanley reduced their price target on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, September 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $73.40.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.34). The business had revenue of $399.30 million during the quarter, compared to analyst estimates of $392.10 million. Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. sell-side analysts expect that Lamar Advertising will post 4.84 EPS for the current fiscal year.
In related news, Director Stephen P. Mumblow sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $78.33, for a total value of $313,320.00. Following the completion of the transaction, the director now directly owns 11,031 shares of the company’s stock, valued at approximately $864,058.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Lamar Advertising by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,185 shares of the real estate investment trust’s stock valued at $896,000 after purchasing an additional 86 shares in the last quarter. Aureus Asset Management LLC increased its position in Lamar Advertising by 1.6% during the second quarter. Aureus Asset Management LLC now owns 6,005 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 94 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Lamar Advertising by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 37,785 shares of the real estate investment trust’s stock worth $2,780,000 after buying an additional 190 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lamar Advertising by 6.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,254 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 204 shares in the last quarter. Finally, CWH Capital Management Inc. increased its position in Lamar Advertising by 0.6% during the second quarter. CWH Capital Management Inc. now owns 80,550 shares of the real estate investment trust’s stock worth $5,926,000 after buying an additional 505 shares in the last quarter. 84.35% of the stock is owned by hedge funds and other institutional investors.
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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