Lamar Advertising Sets New 1-Year High Following Analyst Upgrade (LAMR)
Lamar Advertising (NASDAQ:LAMR) hit a new 52-week high during trading on Thursday after MKM Partners raised their price target on the stock from $51.00 to $57.00, ARN reports. MKM Partners currently has a neutral rating on the stock. Lamar Advertising traded as high as $53.00 and last traded at $52.37, with a volume of 2,927,881 shares traded. The stock had previously closed at $50.07.
A number of other firms have also recently commented on LAMR. Analysts at Citigroup Inc. upgraded shares of Lamar Advertising from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 5th. They now have a $55.50 price target on the stock, up previously from $54.00. Finally, analysts at Zacks downgraded shares of Lamar Advertising from an “outperform” rating to a “neutral” rating in a research note on Monday, December 2nd. They now have a $52.00 price target on the stock. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $53.45.
The stock has a 50-day moving average of $50.09 and a 200-day moving average of $47.98. The company has a market cap of $4.885 billion and a P/E ratio of 116.71.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.16 by $0.05. The company had revenue of $320.40 million for the quarter, compared to the consensus estimate of $316.50 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts expect that Lamar Advertising will post $0.51 EPS for the current fiscal year.
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment.
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