Citigroup Issues Positive Forecast for Lamar Advertising (NASDAQ:LAMR) Stock Price

Lamar Advertising (NASDAQ:LAMR) had its price target raised by Citigroup from $121.76 to $128.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also commented on LAMR. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Stock Down 0.4 %

LAMR stock opened at $122.16 on Tuesday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $12.50 billion, a PE ratio of 34.61 and a beta of 1.51. Lamar Advertising has a 12 month low of $108.23 and a 12 month high of $139.88. The firm has a 50 day simple moving average of $124.42 and a 200 day simple moving average of $127.67.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Equities research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.08%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is presently 175.64%.

Hedge Funds Weigh In On Lamar Advertising

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Lamar Advertising in the 3rd quarter valued at approximately $25,000. Rialto Wealth Management LLC bought a new position in Lamar Advertising in the 4th quarter worth approximately $25,000. Concord Wealth Partners bought a new stake in shares of Lamar Advertising in the third quarter valued at approximately $26,000. Finally, Assetmark Inc. raised its stake in Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Company Profile

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.