Lamar Advertising Co. (LAMR) Shares Up 3.8%
Lamar Advertising Co. (NASDAQ:LAMR) shot up 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. The stock had previously closed at $61.06.
A number of brokerages have recently commented on LAMR. Zacks Investment Research upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Loop Capital began coverage on shares of Lamar Advertising in a report on Monday, September 12th. They set a “buy” rating for the company. Finally, Gabelli downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a report on Thursday, July 21st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Lamar Advertising has a consensus rating of “Hold” and a consensus target price of $66.38.
The company has a market capitalization of $6.22 billion, a PE ratio of 21.03 and a beta of 1.79. The stock’s 50 day moving average price is $62.77 and its 200-day moving average price is $63.22.
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Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Tuesday, August 9th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.01. The firm earned $387.50 million during the quarter, compared to analyst estimates of $384.09 million. Lamar Advertising had a net margin of 20.64% and a return on equity of 28.94%. Lamar Advertising’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. Analysts anticipate that Lamar Advertising Co. will post $3.05 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Wednesday, September 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.75. Lamar Advertising’s dividend payout ratio is currently 99.67%.
A number of institutional investors have recently made changes to their positions in LAMR. Pioneer Investment Management Inc. raised its position in shares of Lamar Advertising by 4.8% in the fourth quarter. Pioneer Investment Management Inc. now owns 23,817 shares of the company’s stock worth $1,429,000 after buying an additional 1,100 shares in the last quarter. Norges Bank acquired a new stake in shares of Lamar Advertising during the fourth quarter worth $41,722,000. Boston Advisors LLC increased its stake in shares of Lamar Advertising by 13.6% in the first quarter. Boston Advisors LLC now owns 7,490 shares of the company’s stock worth $461,000 after buying an additional 895 shares during the last quarter. Forte Capital LLC ADV acquired a new stake in shares of Lamar Advertising during the first quarter worth $810,000. Finally, Douglas Lane & Associates LLC acquired a new stake in shares of Lamar Advertising during the first quarter worth $6,332,000. Hedge funds and other institutional investors own 80.05% of the company’s stock.
About Lamar Advertising
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.
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