Lamar Advertising (NASDAQ:LAMR) Sets New 12-Month High – Still a Buy?

Shares of Lamar Advertising (NASDAQ:LAMR) hit a new 52-week high on Tuesday . The stock traded as high as $137.42 and last traded at $136.90, with a volume of 30058 shares. The stock had previously closed at $136.24.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LAMR shares. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen boosted their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. 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 target on the stock. Finally, StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $125.00.

Lamar Advertising Stock Down 0.5 %

The business has a 50 day moving average price of $127.00 and a 200 day moving average price of $120.47. The firm has a market capitalization of $13.90 billion, a P/E ratio of 28.05 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm 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%. Lamar Advertising’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 EPS. On average, analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.12%. Lamar Advertising’s dividend payout ratio is currently 114.99%.

Institutional Trading of Lamar Advertising

Several institutional investors have recently made changes to their positions in the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in Lamar Advertising during the first quarter valued at approximately $25,000. Whittier Trust Co. boosted its stake in Lamar Advertising by 144.4% in the 2nd 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. Fidelis Capital Partners LLC bought a new stake in Lamar Advertising in the first quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new position in Lamar Advertising during the second quarter worth $30,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Lamar Advertising by 85.8% during the first quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 145 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

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.