Lamar Advertising (NASDAQ:LAMR) Trading Up 22.4%

Lamar Advertising Co (NASDAQ:LAMR) shares were up 22.4% during mid-day trading on Wednesday . The company traded as high as $41.25 and last traded at $49.96, approximately 78,969 shares were traded during trading. A decline of 94% from the average daily volume of 1,268,717 shares. The stock had previously closed at $40.83.

A number of equities research analysts have issued reports on LAMR shares. Morgan Stanley increased their price objective on shares of Lamar Advertising from $92.00 to $94.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. MKM Partners increased their price objective on shares of Lamar Advertising to in a report on Wednesday, February 26th. Imperial Capital raised shares of Lamar Advertising from an “in-line” rating to an “outperform” rating and raised their target price for the company from $91.00 to $93.00 in a report on Tuesday, March 10th. ValuEngine raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, BidaskClub lowered shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Thursday, March 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $93.00.

The business’s fifty day moving average is $77.88 and its two-hundred day moving average is $83.15. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 3.24. The stock has a market capitalization of $5.30 billion, a PE ratio of 13.95 and a beta of 1.04.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.08). Lamar Advertising had a net margin of 21.21% and a return on equity of 32.37%. The business had revenue of $462.70 million during the quarter, compared to analysts’ expectations of $464.04 million. During the same period last year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts expect that Lamar Advertising Co will post 5.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $1.00 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.96. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.75%. Lamar Advertising’s dividend payout ratio (DPR) is 68.97%.

Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Lamar Advertising in the fourth quarter valued at $68,798,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Lamar Advertising in the fourth quarter worth $611,000. Kennedy Capital Management Inc. lifted its position in Lamar Advertising by 7.4% in the fourth quarter. Kennedy Capital Management Inc. now owns 56,121 shares of the real estate investment trust’s stock worth $5,009,000 after buying an additional 3,890 shares during the last quarter. Institute for Wealth Management LLC. lifted its position in Lamar Advertising by 5.2% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,725 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 135 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in Lamar Advertising in the fourth quarter worth $353,000. 81.15% 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.

Read More: Gap Down Stocks

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.