Lamar Advertising (LAMR) Downgraded by BidaskClub

BidaskClub lowered shares of Lamar Advertising (NASDAQ:LAMR) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

A number of other research firms have also issued reports on LAMR. MKM Partners increased their target price on shares of Lamar Advertising to $81.00 and gave the stock a neutral rating in a report on Thursday, February 21st. Imperial Capital reiterated an outperform rating and set a $88.00 target price (down from $94.00) on shares of Lamar Advertising in a report on Wednesday, January 23rd. Wolfe Research started coverage on shares of Lamar Advertising in a report on Friday, December 7th. They set an underperform rating on the stock. ValuEngine upgraded shares of Lamar Advertising from a hold rating to a buy rating in a report on Tuesday, February 19th. Finally, Zacks Investment Research upgraded shares of Lamar Advertising from a hold rating to a buy rating and set a $81.00 target price on the stock in a report on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $78.50.

Shares of LAMR stock traded up $0.22 during trading hours on Thursday, hitting $78.52. The company had a trading volume of 149,134 shares, compared to its average volume of 383,105. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.80 and a current ratio of 0.80. Lamar Advertising has a fifty-two week low of $61.36 and a fifty-two week high of $80.68. The firm has a market cap of $7.80 billion, a P/E ratio of 14.28 and a beta of 1.00.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.38). Lamar Advertising had a return on equity of 28.12% and a net margin of 18.76%. The company had revenue of $427.90 million during the quarter, compared to analyst estimates of $426.29 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Lamar Advertising will post 5.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.96 per share. The ex-dividend date is Thursday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a yield of 4.89%. Lamar Advertising’s dividend payout ratio is 66.91%.

In other Lamar Advertising news, CEO Sean E. Reilly sold 107,606 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $79.55, for a total value of $8,560,057.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sean E. Reilly sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $78.64, for a total transaction of $3,932,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,869 shares of company stock worth $14,202,746. 15.64% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc increased its position in shares of Lamar Advertising by 7.5% in the 3rd quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock valued at $965,072,000 after purchasing an additional 867,169 shares during the last quarter. BlackRock Inc. increased its position in shares of Lamar Advertising by 2.7% in the 4th quarter. BlackRock Inc. now owns 8,390,109 shares of the real estate investment trust’s stock valued at $580,430,000 after purchasing an additional 218,645 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Lamar Advertising by 0.6% in the 4th quarter. Victory Capital Management Inc. now owns 3,084,238 shares of the real estate investment trust’s stock valued at $213,367,000 after purchasing an additional 19,144 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Lamar Advertising by 6,818.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 2,264,394 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Lamar Advertising by 12.5% in the 3rd quarter. Renaissance Technologies LLC now owns 1,889,600 shares of the real estate investment trust’s stock valued at $147,011,000 after buying an additional 209,800 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors.

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.

Featured Article: Asset Allocation

Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.