TD Cowen Boosts Lamar Advertising (NASDAQ:LAMR) Price Target to $160.00

Lamar Advertising (NASDAQ:LAMR) had its price objective lifted by TD Cowen from $142.00 to $160.00 in a research report sent to investors on Monday morning,Benzinga reports. TD Cowen currently has a buy rating on the real estate investment trust’s stock.

LAMR has been the subject of a number of other research reports. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday. Wells Fargo & Company assumed coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price objective for the company. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Down 0.9 %

Shares of NASDAQ:LAMR opened at $127.15 on Monday. The business’s 50 day moving average is $131.98 and its 200 day moving average is $123.22. The stock has a market cap of $13.01 billion, a P/E ratio of 25.43 and a beta of 1.52. Lamar Advertising has a 52-week low of $95.81 and a 52-week high of $139.88. The company has a quick ratio of 0.41, 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 Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter in the prior year, the business posted $2.04 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts predict that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Hedge Funds Weigh In On Lamar Advertising

Several hedge funds have recently modified their holdings of LAMR. Blue Trust Inc. grew its position in Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising during the third quarter valued at $25,000. Concord Wealth Partners purchased a new position in Lamar Advertising in the 3rd quarter worth $26,000. Whittier Trust Co. lifted its position in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares during the period. Finally, Assetmark Inc. grew its stake in Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds 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.