Shares of Lamar Advertising Company (NASDAQ:LAMR) have been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the firm. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $69.67.
LAMR has been the subject of several recent research reports. Goldman Sachs Group Inc raised Lamar Advertising Company from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, January 17th. Zacks Investment Research downgraded Lamar Advertising Company from a “hold” rating to a “sell” rating in a report on Monday, February 27th.
Lamar Advertising Company (NASDAQ:LAMR) traded down 0.64% during mid-day trading on Monday, reaching $73.00. 12,810 shares of the company were exchanged. The stock has a 50-day moving average of $74.92 and a 200 day moving average of $70.20. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09. The firm has a market capitalization of $7.11 billion, a P/E ratio of 23.93 and a beta of 1.49.
Lamar Advertising Company (NASDAQ:LAMR) last issued its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Lamar Advertising Company had a return on equity of 28.50% and a net margin of 20.06%. The company had revenue of $386.70 million for the quarter, compared to analyst estimates of $388.44 million. During the same period in the prior year, the business earned $0.79 earnings per share. Lamar Advertising Company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Lamar Advertising Company will post $3.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a $0.83 dividend. The ex-dividend date was Monday, March 13th. This represents a $3.32 dividend on an annualized basis and a yield of 4.55%. This is an increase from Lamar Advertising Company’s previous quarterly dividend of $0.76. Lamar Advertising Company’s dividend payout ratio (DPR) is 100.33%.
In other Lamar Advertising Company news, Director Anna Reilly sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $74.83, for a total value of $3,741,500.00. Following the completion of the sale, the director now owns 141,859 shares of the company’s stock, valued at $10,615,308.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Keith A. Istre sold 25,000 shares of the firm’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $77.47, for a total value of $1,936,750.00. Following the completion of the transaction, the chief financial officer now owns 169,253 shares of the company’s stock, valued at approximately $13,112,029.91. The disclosure for this sale can be found here. In the last three months, insiders sold 83,000 shares of company stock valued at $6,287,050. 18.66% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mason Street Advisors LLC purchased a new position in shares of Lamar Advertising Company during the second quarter worth $2,492,000. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Lamar Advertising Company by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,231 shares of the real estate investment trust’s stock worth $944,000 after buying an additional 69 shares in the last quarter. Williams Jones & Associates LLC boosted its position in shares of Lamar Advertising Company by 190.0% in the second quarter. Williams Jones & Associates LLC now owns 15,941 shares of the real estate investment trust’s stock worth $1,057,000 after buying an additional 10,444 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Lamar Advertising Company by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,480 shares of the real estate investment trust’s stock worth $1,860,000 after buying an additional 568 shares in the last quarter. Finally, Naples Global Advisors LLC purchased a new position in shares of Lamar Advertising Company during the third quarter worth $387,000. Institutional investors and hedge funds own 83.75% of the company’s stock.
About Lamar Advertising Company
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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