Citigroup Inc. Reiterates Neutral Rating for Lamar Advertising Company (LAMR)
Lamar Advertising Company (NASDAQ:LAMR)‘s stock had its “neutral” rating reaffirmed by research analysts at Citigroup Inc. in a note issued to investors on Friday. They presently have a $66.00 price target on the real estate investment trust’s stock, down from their prior price target of $69.00. Citigroup Inc.’s price objective suggests a potential upside of 1.34% from the company’s previous close.
A number of other brokerages have also recently weighed in on LAMR. Zacks Investment Research cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. BidaskClub cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Loop Capital reissued a “buy” rating and set a $87.00 price objective on shares of Lamar Advertising in a research note on Friday, June 9th. Finally, MKM Partners dropped their price objective on shares of Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $73.40.
Lamar Advertising (LAMR) traded up 1.18% during trading on Friday, hitting $65.90. The company’s stock had a trading volume of 33,263 shares. Lamar Advertising has a one year low of $58.68 and a one year high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.37. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The business had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $399.09 million. During the same period last year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts expect that Lamar Advertising will post $3.12 earnings per share for the current year.
In related news, Director Stephen P. Mumblow sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total transaction of $1,412,200.00. Following the sale, the director now owns 5,970 shares in the company, valued at $421,541.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.66% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC raised its stake 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 worth $5,039,000 after buying an additional 8,452 shares during the period. Creative Planning raised its stake in shares of Lamar Advertising by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 290 shares during the period. Capstone Asset Management Co. raised its stake 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 worth $693,000 after buying an additional 230 shares during the period. Integrated Wealth Management raised its stake 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 worth $341,000 after buying an additional 162 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Lamar Advertising during the first quarter worth about $317,000. Hedge funds and other institutional investors own 86.79% 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.
Receive News & Ratings for Lamar Advertising Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising Company and related companies with MarketBeat.com's FREE daily email newsletter.