TD Cowen Increases Lamar Advertising (NASDAQ:LAMR) Price Target to $140.00

Lamar Advertising (NASDAQ:LAMR) had its price target increased by TD Cowen from $135.00 to $140.00 in a report issued on Friday, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on LAMR. Citigroup lowered Lamar Advertising from a buy rating to a neutral rating and set a $122.00 target price for the company. in a research note on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Lamar Advertising from a hold rating to a buy rating in a research note on Friday, May 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $123.25.

Lamar Advertising Trading Down 1.0 %

NASDAQ:LAMR traded down $1.17 on Friday, hitting $115.45. 469,974 shares of the stock were exchanged, compared to its average volume of 414,400. The stock has a market cap of $11.80 billion, a PE ratio of 23.71 and a beta of 1.52. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. The stock has a fifty day moving average of $117.53 and a 200-day moving average of $115.07. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $123.25.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate 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 return on equity of 41.86% and a net margin of 23.29%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. As a group, equities analysts expect that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $5.20 dividend on an annualized basis and a yield of 4.50%. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Institutional Investors Weigh In On Lamar Advertising

A number of hedge funds have recently bought and sold shares of the business. Accurate Wealth Management LLC lifted its holdings in Lamar Advertising by 3.8% during the 1st quarter. Accurate Wealth Management LLC now owns 2,449 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 90 shares during the last quarter. SPC Financial Inc. lifted its holdings in shares of Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 103 shares during the last quarter. Woodward Diversified Capital LLC lifted its holdings in shares of Lamar Advertising by 2.6% in the 1st quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 113 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Lamar Advertising by 1.8% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock worth $789,000 after purchasing an additional 114 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in shares of Lamar Advertising by 0.4% in the 2nd quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock worth $3,301,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

About Lamar Advertising

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.