Brokerages Set Lamar Advertising (NASDAQ:LAMR) Price Target at $125.00

Shares of Lamar Advertising (NASDAQ:LAMR) have earned an average rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $132.40.

LAMR has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday. Finally, Morgan Stanley boosted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday.

Institutional Investors Weigh In On Lamar Advertising

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAMR. Blue Trust Inc. raised its stake in shares of Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares in the last quarter. Brooklyn Investment Group bought a new stake in Lamar Advertising in the third quarter worth about $25,000. Whittier Trust Co. lifted its holdings in Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Lamar Advertising during the 3rd quarter valued at about $26,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lamar Advertising in the 2nd quarter worth approximately $30,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

LAMR stock opened at $127.15 on Friday. The stock’s 50 day moving average price is $131.98 and its 200 day moving average price is $123.22. The firm has a market cap of $13.01 billion, a P/E ratio of 25.43 and a beta of 1.52. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.41 and a current ratio of 0.56. Lamar Advertising has a 1 year low of $95.81 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same period in the prior year, the company earned $2.04 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.40%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is 112.00%.

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.