Lamar Advertising (NASDAQ:LAMR) Stock Price Up 22.4%

Lamar Advertising Co (NASDAQ:LAMR)’s stock price rose 22.4% on Wednesday . The company traded as high as $41.25 and last traded at $49.96, approximately 78,969 shares were traded during mid-day trading. A decline of 94% from the average daily volume of 1,268,717 shares. The stock had previously closed at $40.83.

LAMR has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Lamar Advertising from $92.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Citigroup raised shares of Lamar Advertising from a “sell” rating to a “neutral” rating in a research report on Wednesday. Imperial Capital raised shares of Lamar Advertising from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $91.00 to $93.00 in a research report on Tuesday, March 10th. ValuEngine raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, BidaskClub downgraded shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $93.00.

The company’s 50-day moving average is $77.88 and its 200 day moving average is $83.15. The company has a market capitalization of $5.30 billion, a PE ratio of 13.95 and a beta of 1.04. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.46 and a current ratio of 0.46.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.08). Lamar Advertising had a net margin of 21.21% and a return on equity of 32.37%. The firm had revenue of $462.70 million for the quarter, compared to analysts’ expectations of $464.04 million. During the same period last year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts forecast that Lamar Advertising Co will post 5.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 7.75%. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.96. The ex-dividend date is Friday, March 13th. Lamar Advertising’s dividend payout ratio is 68.97%.

A number of institutional investors and hedge funds have recently bought and sold shares of LAMR. FMR LLC lifted its stake in Lamar Advertising by 5.5% during the 1st quarter. FMR LLC now owns 293,906 shares of the real estate investment trust’s stock valued at $23,295,000 after acquiring an additional 15,311 shares during the period. Colony Group LLC lifted its stake in Lamar Advertising by 2.6% during the 3rd quarter. Colony Group LLC now owns 68,417 shares of the real estate investment trust’s stock valued at $5,605,000 after acquiring an additional 1,755 shares during the period. Voya Investment Management LLC lifted its stake in Lamar Advertising by 4.6% during the 3rd quarter. Voya Investment Management LLC now owns 237,149 shares of the real estate investment trust’s stock valued at $19,429,000 after acquiring an additional 10,480 shares during the period. SWS Partners lifted its stake in Lamar Advertising by 7.7% during the 3rd quarter. SWS Partners now owns 22,049 shares of the real estate investment trust’s stock valued at $1,834,000 after acquiring an additional 1,575 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in Lamar Advertising by 46.4% during the 3rd quarter. Global Retirement Partners LLC now owns 4,141 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 1,313 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.

About Lamar Advertising (NASDAQ:LAMR)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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