Lamar Advertising (NASDAQ:LAMR) Sets New 52-Week High at $132.28

Lamar Advertising (NASDAQ:LAMR) reached a new 52-week high during trading on Thursday . The stock traded as high as $132.28 and last traded at $132.01, with a volume of 130555 shares changing hands. The stock had previously closed at $130.95.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company began coverage on shares of Lamar Advertising in a research note on Thursday. They set an “equal weight” rating and a $132.00 price target on the stock. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. TD Cowen boosted their price objective on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $125.00.

Lamar Advertising Price Performance

The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $13.46 billion, a PE ratio of 26.89 and a beta of 1.52. The business has a fifty day moving average price of $120.89 and a 200-day moving average price of $118.22.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 EPS. Research analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.25%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 114.99%.

Institutional Investors Weigh In On Lamar Advertising

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. purchased a new position in Lamar Advertising in the 1st quarter worth approximately $25,000. Whittier Trust Co. grew its holdings in shares of Lamar Advertising by 144.4% in the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 130 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Lamar Advertising in the first quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in Lamar Advertising during the 2nd quarter valued at $30,000. Finally, Sound Income Strategies LLC boosted its position in Lamar Advertising by 85.8% during the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 145 shares during the period. Institutional investors own 93.78% of the company’s stock.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.