Lamar Advertising (NASDAQ:LAMR) Sets New 52-Week High – Here’s Why

Shares of Lamar Advertising Company (NASDAQ:LAMR) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $164.73 and last traded at $164.5150, with a volume of 317117 shares trading hands. The stock had previously closed at $162.21.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and lifted their target price for the company from $145.00 to $160.00 in a research report on Friday, July 10th. TD Cowen upped their target price on Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Morgan Stanley set a $145.00 price target on Lamar Advertising in a research report on Thursday, May 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $154.67.

Lamar Advertising Stock Up 1.7%

The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. The firm has a 50 day simple moving average of $155.07 and a 200-day simple moving average of $141.24. The stock has a market cap of $16.75 billion, a P/E ratio of 30.40 and a beta of 1.19.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The company had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $522.86 million. On average, equities research analysts forecast that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

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

Hedge Funds Weigh In On Lamar Advertising

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

About Lamar Advertising

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.