Lamar Advertising (NASDAQ:LAMR) Reaches New 12-Month High at $123.43

Lamar Advertising (NASDAQ:LAMR)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $123.43 and last traded at $123.07, with a volume of 17790 shares changing hands. The stock had previously closed at $122.19.

Analysts Set New Price Targets

LAMR has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. TD Cowen lifted their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $123.25.

Lamar Advertising Price Performance

The firm has a market capitalization of $12.54 billion, a PE ratio of 25.26 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The business’s 50 day moving average is $118.31 and its two-hundred day moving average is $116.33.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The company had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. During the same quarter last year, the firm earned $1.90 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be paid a dividend of $1.40 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.57%. Lamar Advertising’s dividend payout ratio is presently 106.78%.

Institutional Investors Weigh In On Lamar Advertising

Several hedge funds have recently made changes to their positions in the company. Quarry LP raised its holdings in Lamar Advertising by 178.8% in the second quarter. Quarry LP now owns 1,207 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 774 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Lamar Advertising by 9.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,999 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 269 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Lamar Advertising by 8.2% during the second quarter. NewEdge Advisors LLC now owns 36,218 shares of the real estate investment trust’s stock valued at $4,329,000 after acquiring an additional 2,753 shares in the last quarter. Creative Planning increased its holdings in shares of Lamar Advertising by 13.5% during the second quarter. Creative Planning now owns 11,880 shares of the real estate investment trust’s stock valued at $1,420,000 after acquiring an additional 1,412 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Lamar Advertising by 25.5% during the second quarter. Duff & Phelps Investment Management Co. now owns 24,640 shares of the real estate investment trust’s stock worth $2,945,000 after purchasing an additional 5,000 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.