Lamar Advertising (NASDAQ:LAMR) Hits New 52-Week High at $91.32

Lamar Advertising Co (NASDAQ:LAMR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $91.32 and last traded at $91.17, with a volume of 13182 shares changing hands. The stock had previously closed at $91.17.

A number of research analysts recently issued reports on LAMR shares. ValuEngine lowered shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. BidaskClub lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $83.50.

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.32. The business’s fifty day simple moving average is $87.39 and its two-hundred day simple moving average is $81.94. The stock has a market capitalization of $9.05 billion, a P/E ratio of 16.56 and a beta of 0.96.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.08). Lamar Advertising had a net margin of 21.23% and a return on equity of 32.10%. The company had revenue of $457.80 million during the quarter, compared to the consensus estimate of $452.91 million. During the same period last year, the company earned $0.95 earnings per share. Lamar Advertising’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that Lamar Advertising Co will post 5.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Friday, December 13th. Lamar Advertising’s dividend payout ratio (DPR) is presently 69.82%.

A number of institutional investors have recently modified their holdings of LAMR. Invesco Ltd. boosted its holdings in Lamar Advertising by 159.7% in the 2nd quarter. Invesco Ltd. now owns 2,136,153 shares of the real estate investment trust’s stock valued at $172,408,000 after purchasing an additional 1,313,478 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Lamar Advertising during the 2nd quarter worth about $33,755,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Lamar Advertising during the 2nd quarter worth about $17,064,000. Victory Capital Management Inc. lifted its holdings in shares of Lamar Advertising by 6.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,145,239 shares of the real estate investment trust’s stock worth $253,853,000 after acquiring an additional 188,976 shares during the period. Finally, Scout Investments Inc. lifted its holdings in shares of Lamar Advertising by 62.4% during the 4th quarter. Scout Investments Inc. now owns 366,291 shares of the real estate investment trust’s stock worth $32,695,000 after acquiring an additional 140,739 shares during the period. 79.28% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Company Profile (NASDAQ:LAMR)

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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