BidaskClub upgraded shares of Lamar Advertising (NASDAQ:LAMR) from a strong sell rating to a sell rating in a research note released on Tuesday.
LAMR has been the subject of a number of other research reports. Morgan Stanley increased their price target on Lamar Advertising from $68.00 to $70.00 and gave the company an equal weight rating in a research report on Friday, February 9th. Citigroup lowered Lamar Advertising from a neutral rating to a sell rating and set a $68.00 price target for the company. in a research report on Wednesday, December 20th. Zacks Investment Research lowered Lamar Advertising from a buy rating to a hold rating in a research report on Tuesday, January 9th. MKM Partners increased their price objective on Lamar Advertising from $64.00 to $68.00 and gave the stock a neutral rating in a research note on Thursday, March 8th. Finally, ValuEngine downgraded Lamar Advertising from a buy rating to a hold rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Lamar Advertising presently has a consensus rating of Hold and a consensus target price of $73.25.
NASDAQ:LAMR opened at $63.90 on Tuesday. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.29 and a quick ratio of 1.29. Lamar Advertising has a 1-year low of $61.36 and a 1-year high of $79.17. The firm has a market capitalization of $6,313.08, a P/E ratio of 12.65, a P/E/G ratio of 4.17 and a beta of 1.05.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 19th were paid a $0.91 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 5.70%. The ex-dividend date was Friday, March 16th. Lamar Advertising’s dividend payout ratio is currently 72.08%.
A number of institutional investors have recently made changes to their positions in LAMR. New York State Common Retirement Fund lifted its stake in Lamar Advertising by 2.4% in the 3rd quarter. New York State Common Retirement Fund now owns 201,070 shares of the real estate investment trust’s stock worth $13,779,000 after acquiring an additional 4,790 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Lamar Advertising by 12.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 39,027 shares of the real estate investment trust’s stock worth $2,675,000 after acquiring an additional 4,243 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Lamar Advertising by 1.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 432,844 shares of the real estate investment trust’s stock worth $29,662,000 after acquiring an additional 4,422 shares in the last quarter. Legal & General Group Plc lifted its stake in Lamar Advertising by 11.3% in the 3rd quarter. Legal & General Group Plc now owns 88,392 shares of the real estate investment trust’s stock worth $6,058,000 after acquiring an additional 8,995 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Lamar Advertising by 6.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 346,123 shares of the real estate investment trust’s stock worth $23,720,000 after acquiring an additional 20,663 shares in the last quarter. 84.45% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: “Lamar Advertising (LAMR) Upgraded at BidaskClub” was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3337368/lamar-advertising-lamr-upgraded-at-bidaskclub.html.
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.
Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.