Lamar Advertising (NASDAQ:LAMR) Price Target Lowered to $126.00 at JPMorgan Chase & Co.

Lamar Advertising (NASDAQ:LAMR) had its price objective cut by JPMorgan Chase & Co. from $129.00 to $126.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also commented on LAMR. Wells Fargo & Company cut their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. TD Cowen increased their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $133.40.

Lamar Advertising Trading Down 0.3 %

Lamar Advertising stock opened at $121.91 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a 50-day moving average price of $124.60 and a two-hundred day moving average price of $127.59. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 34.54 and a beta of 1.51. Lamar Advertising has a 52-week low of $107.22 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Sell-side analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is 175.64%.

Institutional Trading of Lamar Advertising

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its position in shares of Lamar Advertising by 31.3% in the fourth quarter. Mackenzie Financial Corp now owns 109,479 shares of the real estate investment trust’s stock worth $13,328,000 after purchasing an additional 26,103 shares in the last quarter. McIlrath & Eck LLC lifted its position in shares of Lamar Advertising by 175.1% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 450 shares in the last quarter. Continuum Advisory LLC raised its position in Lamar Advertising by 5.1% during the fourth quarter. Continuum Advisory LLC now owns 4,385 shares of the real estate investment trust’s stock worth $534,000 after acquiring an additional 213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Lamar Advertising by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 272,633 shares of the real estate investment trust’s stock worth $33,190,000 after acquiring an additional 37,366 shares in the last quarter. Finally, Sone Capital Management LLC bought a new stake in Lamar Advertising during the fourth quarter worth $2,645,000. Institutional investors own 93.78% of the company’s stock.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.