Lamar Advertising (LAMR) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Lamar Advertising (NASDAQ:LAMR) from a buy rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “Shares of Lamar have outperformed its industry, over the past year. Moreover, the stock has seen the Zacks Consensus Estimate for 2017 funds from operations (FFO) per share remaining unchanged in a months’ time. Notably, Lamar’s strong national presence, tenants from diverse industries and valuable permits augur well for its growth. Moreover, the company’s strategy to focus on portfolio upgradation and expansion is expected to drive long-term profitability. Nonetheless, the gloomy environment in the national advertising market remains a concern for the company. Further, high investment expenditures for acquisitions are likely to take a toll on Lamar’s balance sheet.”

LAMR has been the topic of several other reports. ValuEngine upgraded shares of Lamar Advertising from a hold rating to a buy rating in a research report on Monday, October 2nd. Citigroup cut shares of Lamar Advertising from a neutral rating to a sell rating and set a $68.00 price objective on the stock. in a research report on Wednesday, December 20th. Morgan Stanley lowered their price objective on shares of Lamar Advertising from $75.00 to $68.00 and set an equal weight rating on the stock in a research report on Monday, September 18th. Finally, BidaskClub cut shares of Lamar Advertising from a hold rating to a sell rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $73.40.

Lamar Advertising (NASDAQ LAMR) traded down $1.14 during midday trading on Tuesday, reaching $71.43. 297,934 shares of the company’s stock traded hands, compared to its average volume of 458,076. Lamar Advertising has a 12-month low of $62.45 and a 12-month high of $79.17. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market cap of $7,143.14, a PE ratio of 22.68, a price-to-earnings-growth ratio of 4.71 and a beta of 1.15.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The firm had revenue of $399.30 million for the quarter, compared to analysts’ expectations of $392.10 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. equities research analysts expect that Lamar Advertising will post 4.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.65%. Lamar Advertising’s dividend payout ratio (DPR) is currently 105.40%.

In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of Lamar Advertising stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $78.33, for a total transaction of $313,320.00. Following the completion of the sale, the director now owns 11,031 shares of the company’s stock, valued at approximately $864,058.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 14.70% of the company’s stock.

Several large investors have recently modified their holdings of LAMR. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Lamar Advertising by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,185 shares of the real estate investment trust’s stock valued at $896,000 after purchasing an additional 86 shares during the last quarter. Aureus Asset Management LLC lifted its stake in shares of Lamar Advertising by 1.6% in the 2nd quarter. Aureus Asset Management LLC now owns 6,005 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 94 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Lamar Advertising by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,785 shares of the real estate investment trust’s stock valued at $2,780,000 after purchasing an additional 190 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lamar Advertising by 6.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,254 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 204 shares during the last quarter. Finally, CWH Capital Management Inc. lifted its stake in shares of Lamar Advertising by 0.6% in the 2nd quarter. CWH Capital Management Inc. now owns 80,550 shares of the real estate investment trust’s stock valued at $5,926,000 after purchasing an additional 505 shares during the last quarter. 84.35% of the stock is owned by institutional investors.

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Lamar Advertising Company Profile

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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