Lamar Advertising (NASDAQ:LAMR - Free Report) had its price target lifted by Morgan Stanley from $125.00 to $135.00 in a research report sent to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the real estate investment trust's stock.
LAMR has been the topic of a number of other research reports. Wells Fargo & Company initiated coverage on Lamar Advertising in a research note on Thursday, September 19th. They issued an "equal weight" rating and a $132.00 price objective on the stock. StockNews.com upgraded Lamar Advertising from a "hold" rating to a "buy" rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Finally, TD Cowen lifted their target price on Lamar Advertising from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising currently has a consensus rating of "Hold" and an average price target of $132.40.
View Our Latest Research Report on LAMR
Lamar Advertising Stock Performance
Shares of NASDAQ LAMR traded up $1.33 during mid-day trading on Monday, hitting $129.91. The company had a trading volume of 495,893 shares, compared to its average volume of 404,597. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 26.10 and a beta of 1.52. Lamar Advertising has a 12 month low of $91.20 and a 12 month high of $139.88. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The firm's 50 day simple moving average is $131.75 and its two-hundred day simple moving average is $122.96.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). The company had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. As a group, equities research analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.
Lamar Advertising Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were given a $1.40 dividend. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising's dividend payout ratio (DPR) is currently 112.00%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in LAMR. Blue Trust Inc. lifted its holdings in Lamar Advertising by 444.1% during the third 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 in the last quarter. Whittier Trust Co. lifted its holdings 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 purchasing an additional 130 shares in the last quarter. Concord Wealth Partners acquired a new position in Lamar Advertising during the third quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new position in Lamar Advertising during the second quarter worth approximately $30,000. Finally, Assetmark Inc. boosted its holdings in shares of Lamar Advertising by 109.3% during the third 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 period. 93.78% of the stock is currently owned by institutional investors.
About Lamar Advertising
(
Get Free Report)
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.
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