Lamar Advertising Co. (NASDAQ:LAMR)’s share price rose 3.8% during trading on Tuesday . The company traded as high as $63.42 and last traded at $63.36, with a volume of 903,933 shares changing hands. The stock had previously closed at $61.06.
LAMR has been the subject of a number of research analyst reports. Loop Capital initiated coverage on Lamar Advertising in a report on Monday, September 12th. They set a “buy” rating for the company. Zacks Investment Research raised Lamar Advertising from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Monday, July 4th. Finally, Gabelli cut Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a report on Thursday, July 21st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Lamar Advertising currently has a consensus rating of “Hold” and an average target price of $66.38.
The company has a market capitalization of $6.32 billion, a PE ratio of 21.34 and a beta of 1.79. 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 quarterly earnings data on Tuesday, August 9th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.01. Lamar Advertising had a return on equity of 28.94% and a net margin of 20.64%. The company had revenue of $387.50 million for the quarter, compared to analyst estimates of $384.09 million. During the same quarter in the previous year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts forecast that Lamar Advertising Co. will post $3.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Wednesday, September 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.75. Lamar Advertising’s payout ratio is currently 99.67%.
Large investors have recently made changes to their positions in the stock. I.G. Investment Management LTD. acquired a new stake in shares of Lamar Advertising during the second quarter worth $175,000. CIBC Asset Management Inc acquired a new stake in shares of Lamar Advertising during the second quarter worth $200,000. Zacks Investment Management acquired a new stake in shares of Lamar Advertising during the second quarter worth $206,000. Beacon Trust Co. acquired a new stake in shares of Lamar Advertising during the second quarter worth $223,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of 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 worth $225,000 after buying an additional 3,360 shares in the last quarter. 80.05% of the stock is currently owned by 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.