Lamar Advertising Company (NASDAQ:LAMR) Cut to “Strong Sell” at BidaskClub
Lamar Advertising Company (NASDAQ:LAMR) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.
LAMR has been the subject of a number of other reports. Wells Fargo & Company lowered shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. MKM Partners reiterated a “neutral” rating and set a $72.00 target price (down from $73.00) on shares of Lamar Advertising in a research note on Friday, May 5th. Zacks Investment Research upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Loop Capital reiterated a “buy” rating and set a $87.00 target price on shares of Lamar Advertising in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Lamar Advertising has a consensus rating of “Hold” and a consensus target price of $75.25.
Shares of Lamar Advertising (LAMR) traded up 0.63% during trading on Thursday, reaching $65.54. The company’s stock had a trading volume of 132,112 shares. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 21.50 and a beta of 1.12. The firm’s 50-day moving average price is $71.58 and its 200-day moving average price is $73.13. Lamar Advertising has a one year low of $58.68 and a one year high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by $0.37. The company had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.28%. Lamar Advertising’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, equities analysts anticipate that Lamar Advertising will post $3.12 earnings per share for the current year.
In other news, Director Stephen P. Mumblow sold 20,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 18.66% of the company’s stock.
Large investors have recently modified their holdings of the stock. Penserra Capital Management LLC acquired a new stake in shares of Lamar Advertising during the first quarter worth about $169,000. Westpac Banking Corp acquired a new stake in shares of Lamar Advertising during the second quarter worth about $176,000. Creative Planning increased its stake in shares of Lamar Advertising by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 290 shares during the last quarter. HL Financial Services LLC acquired a new stake in shares of Lamar Advertising during the first quarter worth about $217,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Lamar Advertising during the first quarter worth about $220,000. 85.94% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising 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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