According to Zacks, “Lamar’s current quarter funds from operations (FFO) per share estimate remained stable over the past 30 days. The company enjoys a diversified tenant base. Further, its impressive national footprint, solid growth opportunities in the outdoor advertising industry and healthy balance sheet bode well for the long term. Recent hike in quarterly dividend payout is also encouraging. However, increased capital expenditures and higher expenses related to the acquired outdoor advertising assets could reduce free cash flow and strain its margins. Further, stiff competition and any rise in the interest rate pose challenges for Lamar.”
Several other equities research analysts also recently weighed in on the stock. Loop Capital initiated coverage on shares of Lamar Advertising in a research note on Monday, September 12th. They set a buy rating on the stock. Gabelli downgraded shares of Lamar Advertising from a buy rating to a hold rating and set a $64.00 target price on the stock. in a research note on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Lamar Advertising presently has a consensus rating of Hold and a consensus target price of $66.38.
Lamar Advertising (NASDAQ:LAMR) opened at 64.81 on Monday. The firm has a market capitalization of $6.32 billion, a P/E ratio of 21.34 and a beta of 1.79. Lamar Advertising has a 52-week low of $49.73 and a 52-week high of $69.35. The company’s 50-day moving average is $62.58 and its 200-day moving average is $63.27.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Tuesday, August 9th. The company reported $0.84 earnings per share 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 firm had revenue of $387.50 million for the quarter, compared to the consensus estimate of $384.09 million. During the same period in the prior year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts predict that Lamar Advertising will post $3.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $3.04 dividend on an annualized basis and a yield of 4.69%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.75. Lamar Advertising’s dividend payout ratio is currently 99.67%.
A number of hedge funds have recently modified their holdings of LAMR. Chesley Taft & Associates LLC boosted its stake in shares of 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 in the last quarter. Baird Financial Group Inc. boosted its stake in Lamar Advertising by 1.4% in the second quarter. Baird Financial Group Inc. now owns 4,785 shares of the company’s stock valued at $318,000 after buying an additional 65 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake 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 valued at $944,000 after buying an additional 69 shares during the period. Regent Investment Management LLC boosted its stake in Lamar Advertising by 0.8% in the second quarter. Regent Investment Management LLC now owns 12,975 shares of the company’s stock valued at $860,000 after buying an additional 100 shares during the period. Finally, IBM Retirement Fund boosted its stake in Lamar Advertising by 1.4% in the second quarter. IBM Retirement Fund now owns 8,285 shares of the company’s stock valued at $549,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 80.05% of the company’s stock.
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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