Lamar Advertising Short Interest Down 18.5% in August (LAMR)
Lamar Advertising (NASDAQ:LAMR) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 7,640,737 shares, a decline of 18.5% from the July 31st total of 9,370,059 shares, Analyst Ratings Network reports. Currently, 9.6% of the shares of the company are short sold. Based on an average trading volume of 1,635,610 shares, the days-to-cover ratio is currently 4.7 days.
LAMR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Lamar Advertising from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $55.00 price target on the stock. Separately, analysts at Evercore Partners reiterated an “overweight” rating on shares of Lamar Advertising in a research note on Wednesday, August 13th. They now have a $57.00 price target on the stock, down previously from $59.00. Finally, 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.69.
Shares of Lamar Advertising (NASDAQ:LAMR) opened at 52.71 on Wednesday. Lamar Advertising has a 52-week low of $41.57 and a 52-week high of $54.48. The stock has a 50-day moving average of $51.5 and a 200-day moving average of $51.26. The company has a market cap of $5.022 billion and a price-to-earnings ratio of 132.86.
Lamar Advertising (NASDAQ:LAMR) last released its earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Lamar Advertising will post $0.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend is Thursday, September 18th.
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment.
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