Lamar Advertising Company (NASDAQ:LAMR) Receives Consensus Rating of “Hold” from Brokerages
Shares of Lamar Advertising Company (NASDAQ:LAMR) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $79.67.
Several equities research analysts have weighed in on the stock. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Wells Fargo & Company cut shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. BidaskClub cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, MKM Partners reissued a “neutral” rating and set a $72.00 price target (down previously from $73.00) on shares of Lamar Advertising in a research report on Friday, May 5th.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total value of $1,412,200.00. Following the completion of the transaction, the director now directly owns 5,970 shares in the company, valued at approximately $421,541.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.66% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Clinton Group Inc. bought a new position in shares of Lamar Advertising during the first quarter valued at approximately $650,000. Capstone Asset Management Co. raised its position in shares of Lamar Advertising by 2.5% in the first quarter. Capstone Asset Management Co. now owns 9,269 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 230 shares during the period. Teachers Advisors LLC raised its position in shares of Lamar Advertising by 12.7% in the fourth quarter. Teachers Advisors LLC now owns 74,944 shares of the real estate investment trust’s stock valued at $5,039,000 after buying an additional 8,452 shares during the period. Beacon Trust Co. raised its position in shares of Lamar Advertising by 5.1% in the first quarter. Beacon Trust Co. now owns 7,550 shares of the real estate investment trust’s stock valued at $570,000 after buying an additional 367 shares during the period. Finally, Integrated Wealth Management raised its position in shares of Lamar Advertising by 3.7% in the first quarter. Integrated Wealth Management now owns 4,559 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.
Shares of Lamar Advertising (NASDAQ LAMR) traded down 4.36% on Tuesday, reaching $65.54. The company had a trading volume of 2,486,424 shares. The stock has a market cap of $6.42 billion, a P/E ratio of 22.31 and a beta of 1.12. Lamar Advertising has a 52-week low of $58.68 and a 52-week high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.37. The firm had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $399.09 million. Lamar Advertising had a net margin of 19.18% and a return on equity of 27.42%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. On average, analysts anticipate that Lamar Advertising will post $3.12 earnings per share for the current year.
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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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