Analysts Set Lamar Advertising Co (NASDAQ:LAMR) Price Target at $78.00

Lamar Advertising Co (NASDAQ:LAMR) has been given an average recommendation of “Hold” by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $78.00.

A number of brokerages have recently commented on LAMR. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Finally, Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd.

In related news, CFO Keith A. Istre sold 16,294 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $80.28, for a total value of $1,308,082.32. Following the completion of the transaction, the chief financial officer now owns 118,991 shares of the company’s stock, valued at $9,552,597.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas V. Reifenheiser sold 4,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $81.05, for a total transaction of $324,200.00. Following the completion of the transaction, the director now directly owns 38,708 shares of the company’s stock, valued at approximately $3,137,283.40. The disclosure for this sale can be found here. 15.19% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of LAMR. Norges Bank acquired a new position in Lamar Advertising in the fourth quarter worth about $45,636,000. Millennium Management LLC raised its position in Lamar Advertising by 183.4% in the fourth quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock worth $25,244,000 after purchasing an additional 236,151 shares in the last quarter. Deutsche Bank AG raised its position in Lamar Advertising by 214.0% in the fourth quarter. Deutsche Bank AG now owns 244,322 shares of the real estate investment trust’s stock worth $16,900,000 after purchasing an additional 166,514 shares in the last quarter. Bank of Montreal Can raised its position in Lamar Advertising by 271.7% in the first quarter. Bank of Montreal Can now owns 188,391 shares of the real estate investment trust’s stock worth $14,931,000 after purchasing an additional 137,706 shares in the last quarter. Finally, Federated Investors Inc. PA raised its position in Lamar Advertising by 30.9% in the first quarter. Federated Investors Inc. PA now owns 515,898 shares of the real estate investment trust’s stock worth $40,890,000 after purchasing an additional 121,817 shares in the last quarter. 81.01% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising stock traded down $0.84 on Tuesday, reaching $79.87. 160,832 shares of the stock were exchanged, compared to its average volume of 346,294. The firm has a market cap of $8.07 billion, a PE ratio of 14.52 and a beta of 0.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.52 and a current ratio of 0.52. Lamar Advertising has a twelve month low of $64.51 and a twelve month high of $84.50. The company’s fifty day moving average is $80.72.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.43). The company had revenue of $384.50 million for the quarter, compared to analyst estimates of $384.84 million. Lamar Advertising had a net margin of 20.68% and a return on equity of 30.95%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS. Equities analysts anticipate that Lamar Advertising will post 5.62 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Thursday, June 13th. Lamar Advertising’s dividend payout ratio is currently 69.82%.

About Lamar Advertising

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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Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

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