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

Key Points

• Lamar Advertising shares reached a new 52-week high of $164.73, with the stock recently trading around $164.52 and up 1.7%.
• Analyst sentiment remains cautious: Lamar has a consensus “Hold” rating and an average price target of $154.67, below its current share price, despite TD Cowen maintaining a $170 buy target.
• The REIT exceeded quarterly earnings and revenue expectations, reporting $1.00 EPS and $528 million in revenue, while paying a $1.60 quarterly dividend—equivalent to a 3.9% yield.

Lamar Advertising Company (NASDAQ:LAMR - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $164.73 and last traded at $164.5150, with a volume of 317117 shares. The stock had previously closed at $162.21.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Morgan Stanley set a $145.00 price target on shares of Lamar Advertising in a research report on Thursday, May 7th. Citigroup lowered shares of Lamar Advertising from a "buy" rating to a "neutral" rating and boosted their price target for the company from $145.00 to $160.00 in a report on Friday, July 10th. TD Cowen upped their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $153.00 price objective on shares of Lamar Advertising in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Lamar Advertising has a consensus rating of "Hold" and an average target price of $154.67.

Lamar Advertising Trading Up 1.7%

The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 30.40 and a beta of 1.19. The business's fifty day moving average is $155.07 and its 200 day moving average is $141.24. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.18. The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. Equities analysts predict that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising's dividend payout ratio is currently 118.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sivia Capital Partners LLC acquired a new position in Lamar Advertising during the 2nd quarter worth approximately $510,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Lamar Advertising by 250.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 47,604 shares of the real estate investment trust's stock valued at $5,777,000 after purchasing an additional 34,002 shares during the last quarter. Amundi lifted its position in shares of Lamar Advertising by 224.6% in the second quarter. Amundi now owns 2,048 shares of the real estate investment trust's stock worth $255,000 after purchasing an additional 1,417 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Lamar Advertising in the second quarter worth $873,000. Finally, Cerity Partners LLC boosted its holdings in Lamar Advertising by 39.0% during the second quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust's stock worth $4,510,000 after purchasing an additional 10,423 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Company Profile

Lamar Advertising Company NASDAQ: LAMR is one of North America's largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.