Lamar Advertising Co. (NASDAQ:LAMR) has been given an average recommendation of “Hold” by the ten brokerages that are presently covering the company. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $65.14.
A number of analysts have issued reports on LAMR shares. Gabelli lowered Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a research note on Thursday, July 21st. Loop Capital started coverage on Lamar Advertising in a research note on Monday, September 12th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised Lamar Advertising from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, July 4th.
Shares of Lamar Advertising (NASDAQ:LAMR) opened at 63.92 on Wednesday. The company’s 50 day moving average is $63.17 and its 200-day moving average is $63.72. Lamar Advertising has a 1-year low of $49.73 and a 1-year high of $69.35. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 21.05 and a beta of 1.69.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Lamar Advertising had a return on equity of 28.94% and a net margin of 20.64%. The firm had revenue of $387.50 million for the quarter, compared to analyst estimates of $384.09 million. During the same period last year, the company earned $0.61 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts anticipate that Lamar Advertising will post $3.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 4.76%. Lamar Advertising’s payout ratio is 99.67%.
A number of institutional investors have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. bought a new position in Lamar Advertising during the second quarter valued at approximately $175,000. CIBC Asset Management Inc bought a new position in Lamar Advertising during the second quarter valued at approximately $200,000. Zacks Investment Management bought a new position in Lamar Advertising during the second quarter valued at approximately $206,000. Beacon Trust Co. bought a new position in Lamar Advertising during the second quarter valued at approximately $223,000. Finally, Tower Research Capital LLC TRC raised its position in Lamar Advertising by 16,800.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,380 shares of the company’s stock valued at $225,000 after buying an additional 3,360 shares during the period. 80.05% of the stock is currently 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.
Receive News & Ratings for Lamar Advertising Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising Co. and related companies with MarketBeat.com's FREE daily email newsletter.