Lamar Advertising (NASDAQ:LAMR) Shares Up 14.1%

Lamar Advertising Co (NASDAQ:LAMR)’s share price shot up 14.1% during mid-day trading on Monday . The stock traded as high as $44.17 and last traded at $43.44, 1,833,693 shares traded hands during trading. An increase of 118% from the average session volume of 841,391 shares. The stock had previously closed at $38.07.

A number of analysts have recently weighed in on the company. Imperial Capital lowered their target price on Lamar Advertising from $93.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday. ValuEngine cut Lamar Advertising from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley raised their target price on Lamar Advertising from $92.00 to $94.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. BidaskClub cut Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Thursday, March 19th. Finally, MKM Partners raised their target price on Lamar Advertising to in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $85.67.

The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 3.24. The company has a 50 day moving average price of $67.91 and a 200 day moving average price of $81.52. The company has a market capitalization of $3.83 billion, a P/E ratio of 11.74 and a beta of 1.40.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.08). The business had revenue of $462.70 million for the quarter, compared to the consensus estimate of $464.04 million. Lamar Advertising had a return on equity of 32.37% and a net margin of 21.21%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. As a group, sell-side analysts forecast that Lamar Advertising Co will post 5.93 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, March 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 9.21%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.96. Lamar Advertising’s payout ratio is 68.97%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAMR. Norges Bank bought a new stake in shares of Lamar Advertising during the 4th quarter valued at about $68,798,000. Artisan Partners Limited Partnership bought a new stake in shares of Lamar Advertising during the 4th quarter valued at about $53,749,000. Advisory Research Inc. bought a new position in Lamar Advertising in the fourth quarter worth approximately $39,187,000. Cohen & Steers Inc. boosted its holdings in Lamar Advertising by 25.3% in the fourth quarter. Cohen & Steers Inc. now owns 1,991,702 shares of the real estate investment trust’s stock worth $177,779,000 after acquiring an additional 402,167 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Lamar Advertising by 29.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,689,375 shares of the real estate investment trust’s stock worth $150,794,000 after acquiring an additional 384,308 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.

About Lamar Advertising (NASDAQ:LAMR)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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