Lamar Advertising (NASDAQ:LAMR) Sets New 12-Month Low - Here's What Happened

Lamar Advertising (NASDAQ:LAMR - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $99.84 and last traded at $113.68, with a volume of 1574029 shares traded. The stock had previously closed at $102.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LAMR shares. Citigroup raised their price target on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $134.60.

Lamar Advertising Trading Up 0.2 %

The firm's 50-day simple moving average is $118.08 and its 200-day simple moving average is $124.99. The firm has a market capitalization of $11.40 billion, a PE ratio of 31.45 and a beta of 1.34. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to analysts' expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Equities analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

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Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.57%. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. Lamar Advertising's payout ratio is presently 175.64%.

Institutional Investors Weigh In On Lamar Advertising

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its holdings in shares of Lamar Advertising by 23.2% during the third quarter. Sanctuary Advisors LLC now owns 19,177 shares of the real estate investment trust's stock worth $2,500,000 after purchasing an additional 3,609 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Lamar Advertising during the 3rd quarter valued at approximately $323,000. Franklin Resources Inc. lifted its holdings in Lamar Advertising by 39.8% in the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust's stock worth $7,017,000 after buying an additional 14,672 shares during the period. Oddo BHF Asset Management Sas bought a new stake in shares of Lamar Advertising in the 3rd quarter worth approximately $3,216,000. Finally, JPMorgan Chase & Co. grew its position in shares of Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after buying an additional 90,933 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

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.