Evercore Partners Reiterates “Overweight” Rating for Lamar Advertising (LAMR)
Lamar Advertising (NASDAQ:LAMR)‘s stock had its “overweight” rating restated by research analysts at Evercore Partners in a report released on Wednesday. They currently have a $57.00 price target on the stock, down from their previous price target of $59.00. Evercore Partners’ price objective would indicate a potential upside of 12.34% from the stock’s previous close.
Lamar Advertising (NASDAQ:LAMR) traded up 0.26% on Wednesday, hitting $50.87. 1,165,074 shares of the company’s stock traded hands. Lamar Advertising has a 52 week low of $41.36 and a 52 week high of $54.48. The stock’s 50-day moving average is $51.89 and its 200-day moving average is $51.02. The company has a market cap of $4.847 billion and a price-to-earnings ratio of 128.46. Lamar Advertising also was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 9,370,059 shares, a drop of 17.9% from the July 15th total of 11,409,509 shares. Based on an average trading volume of 1,345,663 shares, the short-interest ratio is presently 7.0 days. Approximately 11.7% of the shares of the company are short sold.
Lamar Advertising (NASDAQ:LAMR) last released its earnings data on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.23. The company had revenue of $330.40 million for the quarter, compared to the consensus estimate of $333.27 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts predict that Lamar Advertising will post $1.01 earnings per share for the current fiscal year.
In other Lamar Advertising news, CFO Keith A. Istre unloaded 26,665 shares of Lamar Advertising stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $50.96, for a total transaction of $1,358,848.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
LAMR has been the subject of a number of other recent research reports. Analysts at Topeka Capital Markets cut their price target on shares of Lamar Advertising from $65.00 to $62.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Analysts at Morgan Stanley downgraded shares of Lamar Advertising from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.93.
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment.
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