Lamar Advertising (NASDAQ:LAMR) Lowered to Sell at BidaskClub

BidaskClub cut shares of Lamar Advertising (NASDAQ:LAMR) from a hold rating to a sell rating in a research report released on Saturday morning, BidAskClub reports.

A number of other brokerages also recently commented on LAMR. JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $74.00 to $56.00 and set a neutral rating on the stock in a research report on Monday, April 13th. TheStreet downgraded shares of Lamar Advertising from a b- rating to a c rating in a research report on Friday, March 27th. Morgan Stanley increased their target price on shares of Lamar Advertising from $52.00 to $77.00 and gave the company an equal weight rating in a research report on Monday, June 22nd. Imperial Capital dropped their target price on shares of Lamar Advertising from $93.00 to $71.00 and set an outperform rating on the stock in a research report on Friday, April 3rd. Finally, MKM Partners dropped their target price on shares of Lamar Advertising from $92.00 to $53.00 and set a neutral rating on the stock in a research report on Monday, April 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $66.00.

Shares of NASDAQ:LAMR opened at $66.52 on Friday. Lamar Advertising has a 52 week low of $30.89 and a 52 week high of $96.82. The company’s 50 day moving average is $68.52 and its two-hundred day moving average is $73.06. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 3.91. The company has a market cap of $6.73 billion, a PE ratio of 18.53 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. Lamar Advertising had a net margin of 20.35% and a return on equity of 31.25%. The company had revenue of $406.57 million for the quarter, compared to the consensus estimate of $396.04 million. During the same period in the prior year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Lamar Advertising will post 4.71 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Friday, June 19th. Lamar Advertising’s dividend payout ratio is currently 34.48%.

In other Lamar Advertising news, Director John E. Koerner III purchased 17,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $66.32 per share, for a total transaction of $1,127,440.00. 15.02% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Mine & Arao Wealth Creation & Management LLC. acquired a new stake in shares of Lamar Advertising in the 4th quarter worth $26,000. Flagship Harbor Advisors LLC lifted its stake in shares of Lamar Advertising by 80.8% in the 1st quarter. Flagship Harbor Advisors LLC now owns 631 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 282 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Lamar Advertising in the 4th quarter worth $38,000. Capital Bank & Trust Co acquired a new stake in shares of Lamar Advertising in the fourth quarter valued at about $39,000. Finally, Advisory Alpha LLC acquired a new stake in shares of Lamar Advertising in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 78.22% of the company’s stock.

About Lamar Advertising

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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Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

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