Zacks Investment Research cut shares of Lamar Advertising (NASDAQ:LAMR) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Shares of Lamar have outperformed its industry, over the past year. Moreover, the stock has seen the Zacks Consensus Estimate for 2017 funds from operations (FFO) per share remaining unchanged in a months’ time. Notably, Lamar’s strong national presence, tenants from diverse industries and valuable permits augur well for its growth. Moreover, the company’s strategy to focus on portfolio upgradation and expansion is expected to drive long-term profitability. Nonetheless, the gloomy environment in the national advertising market remains a concern for the company. Further, high investment expenditures for acquisitions are likely to take a toll on Lamar’s balance sheet.”
Several other equities research analysts have also recently commented on LAMR. BidaskClub cut Lamar Advertising from a hold rating to a sell rating in a report on Tuesday. ValuEngine raised Lamar Advertising from a hold rating to a buy rating in a report on Monday, October 2nd. Morgan Stanley dropped their target price on Lamar Advertising from $75.00 to $68.00 and set an equal weight rating on the stock in a report on Monday, September 18th. Finally, Citigroup cut Lamar Advertising from a neutral rating to a sell rating and set a $68.00 target price on the stock. in a report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $73.40.
Shares of Lamar Advertising (NASDAQ:LAMR) traded down $1.14 during trading hours on Tuesday, reaching $71.43. The company had a trading volume of 297,934 shares, compared to its average volume of 458,076. Lamar Advertising has a 1 year low of $62.45 and a 1 year high of $79.17. The company has a market capitalization of $7,143.14, a PE ratio of 22.68, a price-to-earnings-growth ratio of 4.71 and a beta of 1.15. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The firm had revenue of $399.30 million for the quarter, compared to the consensus estimate of $392.10 million. During the same period in the previous year, the firm earned $0.87 EPS. Lamar Advertising’s revenue for the quarter was up 3.0% on a year-over-year basis. equities analysts predict that Lamar Advertising will post 4.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.65%. Lamar Advertising’s dividend payout ratio (DPR) is 105.40%.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $78.33, for a total value of $313,320.00. Following the transaction, the director now owns 11,031 shares in the company, valued at $864,058.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 14.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of LAMR. Schwab Charles Investment Management Inc. grew its position in Lamar Advertising by 10.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 325,460 shares of the real estate investment trust’s stock worth $23,945,000 after buying an additional 29,566 shares during the last quarter. Prudential Financial Inc. grew its position in Lamar Advertising by 45.5% in the second quarter. Prudential Financial Inc. now owns 84,829 shares of the real estate investment trust’s stock worth $6,241,000 after buying an additional 26,540 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Lamar Advertising in the second quarter worth approximately $298,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Lamar Advertising by 6.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,254 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 204 shares in the last quarter. Finally, Swiss National Bank grew its position in Lamar Advertising by 0.9% during the 2nd quarter. Swiss National Bank now owns 138,038 shares of the real estate investment trust’s stock worth $10,155,000 after purchasing an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 84.35% of the company’s stock.
About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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