Lamar Advertising Company (NASDAQ:LAMR) Receives Average Recommendation of "Hold" from Brokerages

Lamar Advertising Company (NASDAQ:LAMR - Get Free Report) has been assigned an average recommendation of "Hold" from the five ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $134.00.

A number of equities research analysts have commented on LAMR shares. Morgan Stanley lowered their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $114.00 to $135.00 in a report on Thursday, May 29th.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock traded down $0.32 during trading on Thursday, reaching $120.85. The company's stock had a trading volume of 2,250,915 shares, compared to its average volume of 532,322. The business has a 50 day moving average price of $117.40 and a 200-day moving average price of $119.41. The company has a market capitalization of $12.37 billion, a P/E ratio of 29.33 and a beta of 1.34. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. The business had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date is Monday, June 16th. Lamar Advertising's dividend payout ratio is currently 150.49%.

Institutional Investors Weigh In On Lamar Advertising

Several hedge funds have recently modified their holdings of LAMR. Rialto Wealth Management LLC purchased a new stake in shares of Lamar Advertising during the 4th quarter valued at $25,000. 1248 Management LLC acquired a new stake in Lamar Advertising during the first quarter worth about $26,000. Golden State Wealth Management LLC purchased a new position in shares of Lamar Advertising in the 1st quarter worth about $28,000. HHM Wealth Advisors LLC lifted its stake in shares of Lamar Advertising by 26,900.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 269 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 143 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

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.