Lamar Advertising (NASDAQ:LAMR) Sets New 1-Year High – Here’s Why

Lamar Advertising Company (NASDAQ:LAMR) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $164.73 and last traded at $164.5150, with a volume of 317117 shares changing hands. The stock had previously closed at $162.21.

Analyst Ratings Changes

LAMR has been the topic of several recent research reports. TD Cowen increased their price target on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Wells Fargo & Company boosted their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a research note on Thursday, May 7th. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and raised their target price for the stock from $145.00 to $160.00 in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $153.00 target price on shares of Lamar Advertising in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $154.67.

Lamar Advertising Stock Down 2.2%

The company has a market capitalization of $16.30 billion, a PE ratio of 29.64 and a beta of 1.19. The company’s fifty day moving average is $155.49 and its 200-day moving average is $141.72. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.18. The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. As a group, analysts predict that Lamar Advertising Company will post 8.41 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $6.40 annualized dividend and a yield of 4.0%. Lamar Advertising’s dividend payout ratio is currently 118.08%.

Institutional Investors Weigh In On Lamar Advertising

A number of institutional investors and hedge funds have recently bought and sold shares of LAMR. Tucker Asset Management LLC purchased a new stake in shares of Lamar Advertising during the fourth quarter worth about $25,000. Sound Income Strategies LLC boosted its stake in Lamar Advertising by 151.0% in the 4th quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 151 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Lamar Advertising during the 3rd quarter valued at approximately $33,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Lamar Advertising during the third quarter valued at approximately $39,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Lamar Advertising by 48.1% in the fourth quarter. Larson Financial Group LLC now owns 317 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 103 shares in the last quarter. 93.78% of the stock is 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.