Lamar Advertising Short Interest Up 37.4% in April (LAMR)
Shares of Lamar Advertising (NASDAQ:LAMR) were the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totalling 10,991,503 shares, an increase of 37.4% from the April 15th total of 7,997,445 shares, American Banking News reports. Approximately 13.8% of the shares of the stock are short sold. Based on an average trading volume of 2,641,610 shares, the days-to-cover ratio is presently 4.2 days.
A number of research firms have recently commented on LAMR. Analysts at Zacks upgraded shares of Lamar Advertising from a “neutral” rating to an “outperform” rating in a research note on Tuesday. They now have a $61.00 price target on the stock. Separately, analysts at MKM Partners cut their price target on shares of Lamar Advertising from $57.00 to $50.00 in a research note on Thursday, May 8th. They now have a “neutral” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Lamar Advertising from $57.00 to $60.00 in a research note on Wednesday, May 7th. They now have an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $56.21.
Shares of Lamar Advertising (NASDAQ:LAMR) opened at 50.61 on Wednesday. Lamar Advertising has a 52-week low of $41.30 and a 52-week high of $54.48. The stock has a 50-day moving average of $50.75 and a 200-day moving average of $50.51. The company has a market cap of $4.815 billion and a price-to-earnings ratio of 105.65.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.06 by $0.11. The company had revenue of $284.90 million for the quarter, compared to the consensus estimate of $292.40 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Lamar Advertising will post $1.16 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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