Lamar Advertising Co. (LAMR) Sets New 1-Year High at $68.75
Lamar Advertising Co. (NASDAQ:LAMR) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $68.75 and last traded at $68.47, with a volume of 179,527 shares trading hands. The stock had previously closed at $68.44.
LAMR has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Citigroup Inc. downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating in a research note on Monday, March 28th. Finally, MKM Partners upped their price objective on shares of Lamar Advertising from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Thursday, May 5th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.71.
The firm has a 50-day moving average price of $65.11 and a 200-day moving average price of $60.78. The company has a market capitalization of $6.64 billion and a PE ratio of 24.22.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.48. The business earned $338.50 million during the quarter, compared to the consensus estimate of $333.25 million. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $0.42 earnings per share. On average, equities analysts forecast that Lamar Advertising Co. will post $3.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, June 14th.
In other news, Director Stephen P. Mumblow sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $63.50, for a total value of $635,000.00. Following the completion of the sale, the director now directly owns 30,970 shares in the company, valued at approximately $1,966,595. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith A. Istre sold 8,918 shares of the firm’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $63.47, for a total value of $566,025.46. Following the completion of the sale, the chief financial officer now owns 135,117 shares of the company’s stock, valued at $8,575,875.99. The disclosure for this sale can be found here.
Several hedge funds have recently modified their holdings of LAMR. Sei Investments Co. increased its stake in shares of Lamar Advertising by 4.4% in the fourth quarter. Sei Investments Co. now owns 21,757 shares of the company’s stock valued at $1,305,000 after buying an additional 924 shares in the last quarter. UBS Oconnor LLC increased its stake in shares of Lamar Advertising by 150.0% in the fourth quarter. UBS Oconnor LLC now owns 25,000 shares of the company’s stock valued at $1,500,000 after buying an additional 15,000 shares in the last quarter. Quantitative Investment Management LLC purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at approximately $1,559,000. Advisors Asset Management Inc. increased its stake in shares of Lamar Advertising by 52.7% in the fourth quarter. Advisors Asset Management Inc. now owns 32,938 shares of the company’s stock valued at $1,976,000 after buying an additional 11,374 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Lamar Advertising by 12.5% in the fourth quarter. ProShare Advisors LLC now owns 37,180 shares of the company’s stock valued at $2,230,000 after buying an additional 4,121 shares in the last quarter.
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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