Lamar Advertising (NASDAQ:LAMR) Reaches New 12-Month Low – Here’s Why

Lamar Advertising (NASDAQ:LAMR) hit a new 52-week low during trading on Friday . The company traded as low as $105.46 and last traded at $106.59, with a volume of 27864 shares. The stock had previously closed at $109.45.

Analyst Ratings Changes

Several research firms have commented on LAMR. Citigroup lifted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $134.60.

Lamar Advertising Trading Down 4.0 %

The stock has a market capitalization of $10.75 billion, a PE ratio of 29.75 and a beta of 1.53. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The business’s 50-day moving average is $120.86 and its two-hundred day moving average is $126.35.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. On average, analysts predict that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.55 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising’s payout ratio is presently 175.64%.

Institutional Investors Weigh In On Lamar Advertising

A number of large investors have recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new position in Lamar Advertising in the 4th quarter valued at about $25,000. Bessemer Group Inc. boosted its holdings in Lamar Advertising by 106.7% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 143 shares during the last quarter. Blue Trust Inc. grew its stake in Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc increased its holdings in Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in Lamar Advertising by 16.8% during the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 84 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

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.