Lamar Advertising (LAMR) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Lamar Advertising (NASDAQ:LAMR) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Other analysts also recently issued reports about the company. TheStreet downgraded Lamar Advertising from a b rating to a c+ rating in a research note on Wednesday, May 2nd. ValuEngine upgraded Lamar Advertising from a sell rating to a hold rating in a research note on Saturday, June 2nd. Finally, MKM Partners raised their target price on Lamar Advertising from $64.00 to $68.00 and gave the company a neutral rating in a research note on Thursday, March 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $68.67.

Shares of Lamar Advertising opened at $71.76 on Wednesday, Marketbeat reports. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market cap of $7.13 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 4.54 and a beta of 1.09. Lamar Advertising has a 1-year low of $61.36 and a 1-year high of $79.17.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.67. The company had revenue of $361.03 million during the quarter, compared to the consensus estimate of $360.27 million. Lamar Advertising had a return on equity of 27.02% and a net margin of 18.69%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. analysts predict that Lamar Advertising will post 5.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.91 per share. The ex-dividend date is Thursday, June 14th. This represents a $3.64 annualized dividend and a dividend yield of 5.07%. Lamar Advertising’s payout ratio is 72.08%.

In other news, CFO Keith A. Istre sold 41,075 shares of the stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $66.37, for a total transaction of $2,726,147.75. Following the transaction, the chief financial officer now owns 134,472 shares of the company’s stock, valued at $8,924,906.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.64% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in Lamar Advertising by 69.4% in the fourth quarter. Alliancebernstein L.P. now owns 402,208 shares of the real estate investment trust’s stock worth $29,860,000 after acquiring an additional 164,803 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Lamar Advertising by 483.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 43,727 shares of the real estate investment trust’s stock worth $3,247,000 after acquiring an additional 36,227 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in Lamar Advertising by 20.0% in the fourth quarter. State of Tennessee Treasury Department now owns 60,000 shares of the real estate investment trust’s stock worth $4,454,000 after acquiring an additional 10,000 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in Lamar Advertising by 26.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 41,169 shares of the real estate investment trust’s stock worth $3,057,000 after acquiring an additional 8,727 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Lamar Advertising by 2.0% in the fourth quarter. Swiss National Bank now owns 142,438 shares of the real estate investment trust’s stock worth $10,575,000 after acquiring an additional 2,800 shares during the last quarter. 82.81% of the stock is currently owned by institutional investors and hedge funds.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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