Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $135.00

Lamar Advertising (NASDAQ:LAMR) had its price target raised by Morgan Stanley from $125.00 to $135.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on the company. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen raised their price objective on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company began coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $132.40.

Lamar Advertising Trading Down 0.5 %

NASDAQ LAMR opened at $128.25 on Monday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.41 and a current ratio of 0.56. Lamar Advertising has a fifty-two week low of $94.71 and a fifty-two week high of $139.88. The stock has a market cap of $13.12 billion, a P/E ratio of 25.65 and a beta of 1.52. The stock has a 50 day simple moving average of $131.93 and a two-hundred day simple moving average of $123.19.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). The company had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.04 EPS. On average, analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.37%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is 112.00%.

Hedge Funds Weigh In On Lamar Advertising

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Lamar Advertising in the third quarter worth approximately $25,000. Whittier Trust Co. grew its holdings in shares of Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 130 shares during the last quarter. Concord Wealth Partners bought a new stake in shares of Lamar Advertising during the third quarter valued at approximately $26,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lamar Advertising during the second quarter valued at approximately $30,000. 93.78% of the stock is currently owned by institutional investors.

About Lamar Advertising

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.