Lamar Advertising (NASDAQ:LAMR) had its target price cut by equities researchers at Imperial Capital from $89.00 to $86.00 in a report issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Imperial Capital’s target price would indicate a potential upside of 11.63% from the company’s previous close. The analysts noted that the move was a valuation call.
Several other analysts have also commented on LAMR. ValuEngine lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub cut Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Lamar Advertising presently has an average rating of “Hold” and an average target price of $80.75.
LAMR stock opened at $77.04 on Wednesday. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 14.01 and a beta of 0.96. Lamar Advertising has a twelve month low of $64.51 and a twelve month high of $84.50. The business has a 50 day moving average price of $77.56 and a two-hundred day moving average price of $79.52. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.33.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.42). The company had revenue of $448.74 million for the quarter, compared to the consensus estimate of $451.85 million. Lamar Advertising had a return on equity of 32.10% and a net margin of 21.39%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS. On average, equities research analysts anticipate that Lamar Advertising will post 5.62 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of LAMR. Bridgewater Associates LP grew its holdings in Lamar Advertising by 0.3% in the 1st quarter. Bridgewater Associates LP now owns 4,414 shares of the real estate investment trust’s stock worth $330,000 after acquiring an additional 14 shares during the last quarter. Oakbrook Investments LLC increased its position in Lamar Advertising by 0.6% in the second quarter. Oakbrook Investments LLC now owns 3,570 shares of the real estate investment trust’s stock worth $263,000 after buying an additional 20 shares during the last quarter. Avenir Corp raised its stake in shares of Lamar Advertising by 0.5% in the first quarter. Avenir Corp now owns 9,410 shares of the real estate investment trust’s stock valued at $703,000 after buying an additional 50 shares during the period. Atlantic Trust LLC raised its stake in shares of Lamar Advertising by 0.6% in the first quarter. Atlantic Trust LLC now owns 8,980 shares of the real estate investment trust’s stock valued at $671,000 after buying an additional 50 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Lamar Advertising by 1.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 4,867 shares of the real estate investment trust’s stock valued at $364,000 after buying an additional 75 shares during the last quarter. 81.02% of the stock is currently owned by institutional investors and hedge funds.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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