Lamar Advertising (NASDAQ:LAMR) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Lamar Advertising (NASDAQ:LAMR) had its price target increased by Morgan Stanley from $125.00 to $135.00 in a research report report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on LAMR. Wells Fargo & Company assumed coverage on Lamar Advertising in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price on the stock. TD Cowen raised their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $127.15 on Monday. Lamar Advertising has a twelve month low of $95.81 and a twelve month high of $139.88. The stock’s 50 day moving average is $131.98 and its 200-day moving average is $123.22. The company has a quick ratio of 0.41, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of 25.43 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the prior year, the company earned $2.04 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts forecast that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.40%. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Hedge Funds Weigh In On Lamar Advertising

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Lamar Advertising in the third quarter valued at about $25,000. Concord Wealth Partners bought a new position in shares of Lamar Advertising during the third quarter valued at about $26,000. Whittier Trust Co. increased its holdings in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Finally, Assetmark Inc. raised its position 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 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.