Lamar Advertising (NASDAQ:LAMR) Hits New 52-Week High – Here’s Why

Lamar Advertising Company (NASDAQ:LAMR)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $163.01 and last traded at $162.5950, with a volume of 51894 shares changing hands. The stock had previously closed at $160.29.

Analyst Upgrades and Downgrades

LAMR has been the topic of a number of recent research reports. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $145.00 to $160.00 in a research note on Friday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. Wells Fargo & Company upped their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. TD Cowen lifted their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price of $150.50.

Lamar Advertising Price Performance

The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 29.94 and a beta of 1.19. The stock’s 50-day simple moving average is $153.07 and its 200 day simple moving average is $139.06.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. The business had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. On average, equities research analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.9%. The ex-dividend date was Tuesday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is 118.08%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LAMR. Tucker Asset Management LLC acquired a new stake in shares of Lamar Advertising in the fourth quarter valued at $25,000. Sound Income Strategies LLC grew its position in Lamar Advertising by 151.0% in the 4th quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 151 shares in the last quarter. Elevation Wealth Partners LLC grew its position in Lamar Advertising by 451.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 259 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 212 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Lamar Advertising during the third quarter worth about $33,000. Finally, Beacon Financial Strategies CORP acquired a new stake in shares of Lamar Advertising during the fourth quarter worth about $35,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Company Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.