Lamar Advertising (NASDAQ:LAMR) Receives Consensus Recommendation of "Hold" from Brokerages

Lamar Advertising (NASDAQ:LAMR - Get Free Report) has earned an average rating of "Hold" from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $125.00.

A number of analysts have issued reports on the company. Citigroup lowered Lamar Advertising from a "buy" rating to a "neutral" rating and set a $122.00 target price on the stock. in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Wells Fargo & Company started coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They set an "equal weight" rating and a $132.00 price objective on the stock. TD Cowen increased their target price 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, October 18th.

Lamar Advertising Stock Performance

LAMR stock traded down $6.41 during midday trading on Friday, hitting $128.58. 1,099,061 shares of the company traded hands, compared to its average volume of 404,327. Lamar Advertising has a twelve month low of $91.20 and a twelve month high of $139.88. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 26.08 and a beta of 1.52. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The business has a 50 day simple moving average of $131.75 and a 200-day simple moving average of $122.84.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. As a group, equities research analysts predict 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. Stockholders of record on Wednesday, September 18th were issued a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising's previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.36%. Lamar Advertising's dividend payout ratio is presently 113.59%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 151 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Lamar Advertising by 144.4% in 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 in the last quarter. Concord Wealth Partners bought a new position in shares of Lamar Advertising in the third quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new position in Lamar Advertising during the 2nd quarter worth about $30,000. Finally, Assetmark Inc. grew its holdings in Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 117 shares during the last quarter. 93.78% of the stock is 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.