Lamar Advertising (NASDAQ:LAMR) Hits New 1-Year High at $116.80

Lamar Advertising Company (REIT) (NASDAQ:LAMR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $116.80 and last traded at $116.64, with a volume of 5897 shares trading hands. The stock had previously closed at $114.04.

A number of research analysts recently issued reports on the company. TheStreet upgraded Lamar Advertising from a “c+” rating to a “b+” rating in a report on Thursday, August 5th. Morgan Stanley lifted their target price on Lamar Advertising from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, June 11th.

The stock has a market capitalization of $11.91 billion, a PE ratio of 34.98 and a beta of 1.48. The stock has a fifty day moving average of $109.18 and a 200-day moving average of $103.72. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.18.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Wednesday, August 4th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.32. Lamar Advertising had a return on equity of 27.71% and a net margin of 20.20%. During the same quarter in the prior year, the business posted $0.31 earnings per share. Equities research analysts expect that Lamar Advertising Company will post 6.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Monday, September 20th will be issued a $1.00 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, September 17th. Lamar Advertising’s payout ratio is presently 78.43%.

Institutional investors have recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $31,000. Eagle Bay Advisors LLC purchased a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $32,000. Parallel Advisors LLC lifted its holdings in shares of Lamar Advertising by 60.2% in the 2nd quarter. Parallel Advisors LLC now owns 346 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 130 shares during the last quarter. Finally, BDO Wealth Advisors LLC lifted its holdings in shares of Lamar Advertising by 117.4% in the 1st quarter. BDO Wealth Advisors LLC now owns 611 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 330 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Company Profile (NASDAQ:LAMR)

Lamar Advertising Co engages in advertising services. The firm rent advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.

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