Wells Fargo & Company Cuts Lamar Advertising (NASDAQ:LAMR) Price Target to $124.00

Lamar Advertising (NASDAQ:LAMR - Free Report) had its price objective cut by Wells Fargo & Company from $132.00 to $124.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust's stock.

Several other equities analysts have also recently commented on LAMR. Morgan Stanley increased their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday. StockNews.com raised Lamar Advertising from a "hold" rating to a "buy" rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Finally, TD Cowen lifted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Lamar Advertising presently has an average rating of "Hold" and an average price target of $132.40.

Lamar Advertising Stock Up 1.1 %

NASDAQ LAMR traded up $1.46 during mid-day trading on Monday, reaching $130.04. 673,874 shares of the company's stock traded hands, compared to its average volume of 405,563. The company has a fifty day simple moving average of $131.75 and a 200-day simple moving average of $122.96. Lamar Advertising has a 1-year low of $91.20 and a 1-year high of $139.88. The company has a market cap of $13.30 billion, a price-to-earnings ratio of 26.10 and a beta of 1.52. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 42.18% and a net margin of 23.34%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.04 EPS. As a group, equities research analysts expect that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This is an increase from Lamar Advertising's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.31%. Lamar Advertising's payout ratio is 112.00%.

Institutional Investors Weigh In On Lamar Advertising

Large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake 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 valued at $25,000 after buying an additional 151 shares during the period. Concord Wealth Partners acquired a new position in shares of Lamar Advertising during the third quarter valued at approximately $26,000. Whittier Trust Co. raised its holdings in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Assetmark Inc. lifted its position in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 117 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in Lamar Advertising during the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 93.78% of the company's stock.

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.