Lamar Advertising Company (LAMR) Downgraded to Hold at ValuEngine
ValuEngine lowered shares of Lamar Advertising Company (NASDAQ:LAMR) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
A number of other analysts have also recently commented on LAMR. Morgan Stanley dropped their price objective on Lamar Advertising from $75.00 to $68.00 and set an equal weight rating for the company in a research report on Monday, September 18th. Citigroup Inc. reiterated a neutral rating and set a $66.00 price objective (down previously from $69.00) on shares of Lamar Advertising in a research report on Friday, August 11th. BidaskClub cut Lamar Advertising from a sell rating to a strong sell rating in a research report on Thursday, August 10th. MKM Partners dropped their price objective on Lamar Advertising from $72.00 to $64.00 and set a neutral rating for the company in a research report on Wednesday, August 9th. Finally, Wells Fargo & Company cut Lamar Advertising from an outperform rating to a market perform rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $72.50.
Lamar Advertising (LAMR) traded up 1.01% on Friday, reaching $64.78. 585,237 shares of the company’s stock were exchanged. 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 quarterly 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). Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. The firm had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $399.09 million. During the same quarter in the prior year, the business earned $0.84 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Lamar Advertising will post $3.11 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Thursday, September 14th. Lamar Advertising’s dividend payout ratio is presently 109.21%.
A number of institutional investors and hedge funds have recently bought and sold shares of LAMR. Westpac Banking Corp purchased a new stake in Lamar Advertising in the 2nd quarter valued at about $176,000. Penserra Capital Management LLC grew its holdings in Lamar Advertising by 9.5% in the 2nd quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 214 shares during the period. Verity Asset Management Inc. purchased a new stake in Lamar Advertising in the 2nd quarter valued at about $204,000. Two Sigma Securities LLC purchased a new stake in Lamar Advertising in the 1st quarter valued at about $220,000. Finally, SPC Financial Inc. purchased a new stake in Lamar Advertising in the 2nd quarter valued at about $221,000. Institutional investors own 85.05% of the company’s stock.
About Lamar Advertising
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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