Lamar Advertising (LAMR) Hits New 52-Week High at $81.37

Lamar Advertising Co (NASDAQ:LAMR) shares hit a new 52-week high during trading on Monday . The stock traded as high as $81.37 and last traded at $81.21, with a volume of 874 shares. The stock had previously closed at $81.21.

LAMR has been the topic of a number of research analyst reports. BidaskClub raised shares of Lamar Advertising from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. MKM Partners upped their target price on shares of Lamar Advertising to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $88.00 target price (down from $94.00) on shares of Lamar Advertising in a research report on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $78.50.

The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 14.73 and a beta of 1.00. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.80 and a current ratio of 0.80.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.38). The business had revenue of $427.90 million during the quarter, compared to analysts’ expectations of $426.29 million. Lamar Advertising had a return on equity of 28.12% and a net margin of 18.76%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. As a group, analysts predict that Lamar Advertising Co will post 5.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.96 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.74%. Lamar Advertising’s dividend payout ratio is currently 69.82%.

In related news, CEO Sean E. Reilly sold 50,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $78.64, for a total value of $3,932,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sean E. Reilly sold 107,606 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $79.55, for a total transaction of $8,560,057.30. The disclosure for this sale can be found here. Insiders sold a total of 179,869 shares of company stock worth $14,202,746 over the last ninety days. Insiders own 15.64% of the company’s stock.

A number of institutional investors have recently made changes to their positions in LAMR. Oregon Public Employees Retirement Fund boosted its stake in Lamar Advertising by 6,818.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,264,394 shares in the last quarter. Vanguard Group Inc lifted its stake in Lamar Advertising by 7.5% during the 3rd quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock valued at $965,072,000 after acquiring an additional 867,169 shares during the period. Norges Bank purchased a new stake in shares of Lamar Advertising during the 4th quarter valued at about $45,636,000. Rothschild & Co. Asset Management US Inc. purchased a new stake in shares of Lamar Advertising during the 4th quarter valued at about $20,855,000. Finally, Millennium Management LLC increased its position in shares of Lamar Advertising by 183.4% during the 4th quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock valued at $25,244,000 after purchasing an additional 236,151 shares during the last quarter. Institutional investors own 82.27% of the company’s stock.

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About Lamar Advertising (NASDAQ:LAMR)

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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