Lamar Advertising (NASDAQ:LAMR) Hits New 12-Month Low at $83.94

Lamar Advertising (NASDAQ:LAMRGet Rating) hit a new 52-week low on Friday . The company traded as low as $83.94 and last traded at $84.15, with a volume of 1664 shares. The stock had previously closed at $85.10.

Analysts Set New Price Targets

A number of brokerages have weighed in on LAMR. Morgan Stanley increased their price target on Lamar Advertising from $103.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. StockNews.com downgraded shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 2nd. Finally, Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and dropped their price target for the company from $112.00 to $108.00 in a research report on Thursday, July 7th.

Lamar Advertising Price Performance

The firm’s 50 day moving average price is $97.60 and its two-hundred day moving average price is $100.71. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $8.48 billion, a PE ratio of 18.95 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMRGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Lamar Advertising had a net margin of 23.52% and a return on equity of 37.09%. During the same period last year, the business posted $1.75 earnings per share. On average, research analysts expect that Lamar Advertising will post 6.91 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 5.75%. The ex-dividend date is Friday, September 16th. Lamar Advertising’s payout ratio is 106.90%.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $106.35, for a total value of $425,400.00. Following the completion of the sale, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $2,765,100. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 14.99% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Lamar Advertising by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,086,290 shares of the real estate investment trust’s stock valued at $1,520,365,000 after buying an additional 43,704 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Lamar Advertising by 16.7% during the second quarter. Victory Capital Management Inc. now owns 3,576,358 shares of the real estate investment trust’s stock valued at $314,613,000 after purchasing an additional 511,673 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in Lamar Advertising by 3.6% in the first quarter. Cohen & Steers Inc. now owns 3,326,369 shares of the real estate investment trust’s stock worth $386,458,000 after acquiring an additional 116,808 shares in the last quarter. State Street Corp grew its position in Lamar Advertising by 0.8% during the 2nd quarter. State Street Corp now owns 2,386,882 shares of the real estate investment trust’s stock valued at $209,974,000 after purchasing an additional 18,237 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its position in Lamar Advertising by 25.2% during the 2nd quarter. DAVENPORT & Co LLC now owns 1,705,717 shares of the real estate investment trust’s stock valued at $150,027,000 after purchasing an additional 343,708 shares during the last quarter. Institutional investors own 80.15% of the company’s stock.

About Lamar Advertising

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Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 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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