Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $128.00

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

A number of other research analysts have also recently weighed in on LAMR. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company lowered their target price 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Stock Down 0.4 %

Shares of LAMR opened at $122.16 on Tuesday. Lamar Advertising has a fifty-two week low of $108.23 and a fifty-two week high of $139.88. The company’s fifty day moving average is $124.42 and its two-hundred day moving average is $127.67. The firm has a market cap of $12.50 billion, a PE ratio of 34.61 and a beta of 1.51. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

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

Lamar Advertising Increases Dividend

The company 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 dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.08%. Lamar Advertising’s dividend payout ratio (DPR) is 175.64%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LAMR. Los Angeles Capital Management LLC bought a new position in Lamar Advertising during the 3rd quarter worth $43,665,000. JPMorgan Chase & Co. raised its holdings in shares of Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after buying an additional 90,933 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Lamar Advertising by 19,961.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after buying an additional 109,790 shares during the period. Franklin Resources Inc. raised its stake in Lamar Advertising by 39.8% during the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after acquiring an additional 14,672 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Lamar Advertising by 96.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after acquiring an additional 47,746 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

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.