JPMorgan Chase & Co. raised its position in shares of Lamar Advertising Co. (NASDAQ:LAMR) by 32.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,081 shares of the company’s stock after buying an additional 54,104 shares during the period. JPMorgan Chase & Co. owned about 0.23% of Lamar Advertising worth $14,591,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Lamar Advertising during the fourth quarter worth about $41,722,000. Glenmede Trust Co. NA increased its stake in shares of Lamar Advertising by 2.1% in the first quarter. Glenmede Trust Co. NA now owns 146,628 shares of the company’s stock worth $9,016,000 after buying an additional 2,956 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of Lamar Advertising during the first quarter worth about $793,000. IFP Advisors Inc increased its stake in shares of Lamar Advertising by 366.3% in the first quarter. IFP Advisors Inc now owns 6,388 shares of the company’s stock worth $393,000 after buying an additional 5,018 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Lamar Advertising by 125.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 334,449 shares of the company’s stock worth $20,569,000 after buying an additional 186,345 shares during the last quarter. 80.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Lamar Advertising Co. (NASDAQ:LAMR) traded up 0.57% during mid-day trading on Friday, reaching $65.31. 544,163 shares of the company’s stock traded hands. Lamar Advertising Co. has a 12-month low of $49.73 and a 12-month high of $69.35. The company has a market cap of $6.36 billion, a P/E ratio of 21.50 and a beta of 1.79. The company’s 50 day moving average is $62.79 and its 200 day moving average is $63.54.
Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Tuesday, August 9th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.01. Lamar Advertising had a net margin of 20.64% and a return on equity of 28.94%. The firm earned $387.50 million during the quarter, compared to analysts’ expectations of $384.09 million. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, analysts predict that Lamar Advertising Co. will post $3.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Wednesday, September 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.75. Lamar Advertising’s dividend payout ratio (DPR) is 99.67%.
Several research analysts recently weighed in on LAMR shares. Zacks Investment Research raised shares of Lamar Advertising from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Monday, July 4th. Gabelli downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a report on Thursday, July 21st. Finally, Loop Capital started coverage on shares of Lamar Advertising in a report on Monday, September 12th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.38.
Lamar Advertising Company Profile
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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