Lamar Advertising (NASDAQ:LAMR) Downgraded by StockNews.com

StockNews.com downgraded shares of Lamar Advertising (NASDAQ:LAMR) from a buy rating to a hold rating in a research note released on Tuesday morning.

LAMR has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a neutral rating in a report on Wednesday, July 31st. Citigroup lowered Lamar Advertising from a buy rating to a neutral rating and set a $122.00 target price for the company. in a report on Thursday, July 11th. TD Cowen upped their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a buy rating in a report on Friday, August 9th. Finally, Wells Fargo & Company assumed coverage on Lamar Advertising in a research report on Thursday, September 19th. They set an equal weight rating and a $132.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lamar Advertising currently has an average rating of Hold and an average target price of $125.00.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $132.61 on Tuesday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The firm’s 50-day simple moving average is $124.17 and its 200-day simple moving average is $119.52. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $137.40. The firm has a market cap of $13.56 billion, a PE ratio of 27.23 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. Equities analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 4.22%. Lamar Advertising’s dividend payout ratio is currently 114.99%.

Institutional Investors Weigh In On Lamar Advertising

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in Lamar Advertising during the 4th quarter worth approximately $111,255,000. Morningstar Investment Services LLC raised its position in Lamar Advertising by 97.6% during the fourth quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after acquiring an additional 451,429 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Lamar Advertising by 81.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after acquiring an additional 420,311 shares during the last quarter. Centersquare Investment Management LLC grew its position in shares of Lamar Advertising by 82.8% in the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after acquiring an additional 281,582 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Lamar Advertising by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after purchasing an additional 75,955 shares during the last quarter. 93.78% of the stock is 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.