Lamar Advertising (LAMR) Shares Down 7.9% After Earnings Miss

Shares of Lamar Advertising Co (NASDAQ:LAMR) traded down 7.9% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $72.30 and last traded at $74.13. 1,814,953 shares traded hands during mid-day trading, an increase of 241% from the average session volume of 532,237 shares. The stock had previously closed at $80.47.

The real estate investment trust reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.44). Lamar Advertising had a return on equity of 27.75% and a net margin of 18.93%. The business had revenue of $418.50 million during the quarter, compared to analysts’ expectations of $421.29 million. During the same period in the previous year, the company posted $0.98 EPS. Lamar Advertising’s revenue for the quarter was up 4.8% on a year-over-year basis.

Several equities research analysts have recently weighed in on the stock. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. BidaskClub raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Imperial Capital assumed coverage on shares of Lamar Advertising in a research report on Thursday, September 13th. They issued an “outperform” rating and a $93.00 price target for the company. Finally, Citigroup upped their price target on shares of Lamar Advertising from $68.00 to $69.00 and gave the stock a “sell” rating in a research report on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $77.33.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. raised its stake in shares of Lamar Advertising by 13.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,063 shares of the real estate investment trust’s stock worth $414,000 after acquiring an additional 738 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Lamar Advertising by 12.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,618 shares of the real estate investment trust’s stock worth $515,000 after acquiring an additional 743 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Lamar Advertising by 7.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,783 shares of the real estate investment trust’s stock worth $737,000 after acquiring an additional 769 shares in the last quarter. Swiss National Bank raised its stake in shares of Lamar Advertising by 0.6% during the 3rd quarter. Swiss National Bank now owns 146,638 shares of the real estate investment trust’s stock worth $11,408,000 after acquiring an additional 900 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Lamar Advertising by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 32,797 shares of the real estate investment trust’s stock worth $2,240,000 after acquiring an additional 943 shares in the last quarter. Hedge funds and other institutional investors own 83.49% of the company’s stock.

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.37. The company has a market capitalization of $7.74 billion, a P/E ratio of 15.08 and a beta of 1.13.

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Lamar Advertising Company Profile (NASDAQ:LAMR)

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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