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

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LAMR shares. Citigroup boosted their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Price Performance

The stock has a fifty day moving average of $120.86 and a two-hundred day moving average of $126.35. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 29.75 and a beta of 1.53. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly 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. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. On average, equities research analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

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

Hedge Funds Weigh In On Lamar Advertising

Several hedge funds have recently bought and sold shares of LAMR. FMR LLC grew its holdings in Lamar Advertising by 11.0% in the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock valued at $672,890,000 after purchasing an additional 545,606 shares during the last quarter. Cohen & Steers Inc. grew its stake in Lamar Advertising by 453.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock valued at $323,900,000 after acquiring an additional 2,180,011 shares during the last quarter. State Street Corp increased its holdings in Lamar Advertising by 0.8% during the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after acquiring an additional 21,852 shares in the last quarter. Boston Partners raised its position in Lamar Advertising by 6.7% during the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust’s stock worth $295,122,000 after acquiring an additional 152,575 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Lamar Advertising by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust’s stock valued at $257,414,000 after purchasing an additional 59,039 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Company Profile

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.