Zacks Investment Research upgraded shares of Lamar Advertising Company (NASDAQ:LAMR) from a sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Lamar's diversified tenant base and impressive national footprint are likely to aid the company’s growth momentum. Also, it is successfully upgrading its portfolio, raising occupancy in its existing advertising displays and increasing advertising rates. However, increased capital expenditures and elevated expenses related to consistent acquisition of outdoor advertising assets could reduce free cash flow and strain margins. Further, stiff competition and rise in the interest rate pose challenges for Lamar. Also, the shares of the company underperformed the Zacks-categorized REIT and Equity Trust – Other industry over the past three months.”
Other analysts have also issued reports about the stock. Loop Capital reiterated a buy rating and issued a $87.00 price target on shares of Lamar Advertising Company in a research report on Friday, June 9th. ValuEngine upgraded shares of Lamar Advertising Company from a hold rating to a buy rating in a research report on Tuesday, June 20th. BidaskClub upgraded shares of Lamar Advertising Company from a sell rating to a hold rating in a research report on Tuesday, June 13th. Finally, MKM Partners lowered their price target on shares of Lamar Advertising Company from $73.00 to $72.00 and set a neutral rating on the stock in a research report on Monday, May 15th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $74.60.
Lamar Advertising Company (LAMR) opened at 72.58 on Tuesday. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09.
Lamar Advertising Company (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by $0.49. The business had revenue of $346.40 million during the quarter, compared to analyst estimates of $347.06 million. Lamar Advertising Company had a net margin of 19.18% and a return on equity of 27.42%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, equities research analysts predict that Lamar Advertising Company will post $3.12 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Tuesday, June 13th. Lamar Advertising Company’s payout ratio is 112.93%.
In related news, Director Stephen P. Mumblow sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total transaction of $1,412,200.00. Following the transaction, the director now owns 5,970 shares of the company’s stock, valued at $421,541.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.66% of the company’s stock.
Several institutional investors have recently made changes to their positions in LAMR. BlackRock Inc. increased its position in Lamar Advertising Company by 16,176.3% in the first quarter. BlackRock Inc. now owns 7,078,578 shares of the real estate investment trust’s stock worth $529,055,000 after buying an additional 7,035,088 shares in the last quarter. Victory Capital Management Inc. increased its position in Lamar Advertising Company by 40,414.9% in the first quarter. Victory Capital Management Inc. now owns 1,326,053 shares of the real estate investment trust’s stock worth $99,109,000 after buying an additional 1,322,780 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Lamar Advertising Company during the first quarter worth $84,308,000. Norges Bank bought a new position in Lamar Advertising Company during the fourth quarter worth $46,223,000. Finally, Vanguard Group Inc. increased its position in Lamar Advertising Company by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,602,786 shares of the real estate investment trust’s stock worth $493,493,000 after buying an additional 204,052 shares in the last quarter. 85.76% of the stock is currently owned by institutional investors and hedge funds.
Lamar Advertising Company Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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