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

A number of other brokerages have also issued reports on LAMR. Morgan Stanley lifted their price target on shares of Lamar Advertising from $52.00 to $77.00 and gave the stock an equal weight rating in a research note on Monday, June 22nd. ValuEngine lowered shares of Lamar Advertising from a hold rating to a sell rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of Lamar Advertising from $74.00 to $56.00 and set a neutral rating for the company in a research note on Monday, April 13th. TheStreet lowered shares of Lamar Advertising from a b- rating to a c rating in a research note on Friday, March 27th. Finally, Citigroup lifted their price target on shares of Lamar Advertising from $58.00 to $73.00 and gave the stock a neutral rating in a research note on Friday, June 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $66.00.

NASDAQ LAMR opened at $66.52 on Friday. The company’s fifty day simple moving average is $68.52 and its 200-day simple moving average is $73.06. Lamar Advertising has a 52 week low of $30.89 and a 52 week high of $96.82. 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 stock has a market cap of $6.73 billion, a P/E ratio of 18.53 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Lamar Advertising had a net margin of 20.35% and a return on equity of 31.25%. The business had revenue of $406.57 million for the quarter, compared to analysts’ expectations of $396.04 million. During the same period in the previous year, the company posted $0.51 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts expect that Lamar Advertising will post 4.71 EPS for the current fiscal year.

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

In other Lamar Advertising news, Director John E. Koerner III bought 17,000 shares of the stock in a transaction 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 insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Institute for Wealth Management LLC. grew its position in shares of Lamar Advertising by 5.2% during the fourth quarter. Institute for Wealth Management LLC. now owns 2,725 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 135 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Lamar Advertising by 0.7% during the fourth quarter. ProShare Advisors LLC now owns 24,589 shares of the real estate investment trust’s stock worth $2,195,000 after acquiring an additional 159 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Lamar Advertising by 17.1% during the fourth quarter. Penserra Capital Management LLC now owns 1,134 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 166 shares during the last quarter. Utah Retirement Systems lifted its holdings in Lamar Advertising by 0.9% in the first quarter. Utah Retirement Systems now owns 22,599 shares of the real estate investment trust’s stock worth $1,159,000 after purchasing an additional 200 shares during the period. Finally, FMR LLC lifted its holdings in Lamar Advertising by 12.5% in the fourth quarter. FMR LLC now owns 1,941 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 78.22% of the company’s stock.

Lamar Advertising Company Profile

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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