Lamar Advertising (NASDAQ:LAMR) Given New $140.00 Price Target at TD Cowen

Lamar Advertising (NASDAQ:LAMR) had its price objective hoisted by TD Cowen from $135.00 to $140.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other research firms also recently issued reports on LAMR. Citigroup downgraded Lamar Advertising from a buy rating to a neutral rating and set a $122.00 price objective on the stock. in a report on Thursday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a neutral rating in a report on Wednesday, July 31st. Finally, StockNews.com raised shares of Lamar Advertising from a hold rating to a buy rating in a research note on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Lamar Advertising presently has an average rating of Hold and a consensus price target of $123.25.

Lamar Advertising Trading Up 0.8 %

Lamar Advertising stock opened at $116.37 on Friday. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 23.73 and a beta of 1.52. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $123.25. The firm’s 50 day moving average price is $117.53 and its two-hundred day moving average price is $115.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). The company had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share. On average, research analysts predict that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $5.20 annualized dividend and a yield of 4.47%. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Institutional Trading of Lamar Advertising

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Lamar Advertising by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock valued at $1,517,554,000 after buying an additional 68,484 shares during the period. Boston Partners grew its holdings in shares of Lamar Advertising by 32.7% during the 4th quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock valued at $313,871,000 after acquiring an additional 727,207 shares in the last quarter. DAVENPORT & Co LLC increased its stake in shares of Lamar Advertising by 0.4% in the first quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock worth $210,889,000 after acquiring an additional 7,794 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lamar Advertising by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after acquiring an additional 75,955 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Lamar Advertising during the fourth quarter valued at $111,255,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

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.