Lamar Advertising (NASDAQ:LAMR) Shares Gap Down – Time to Sell?

Lamar Advertising (NASDAQ:LAMR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $132.00, but opened at $124.01. Lamar Advertising shares last traded at $126.28, with a volume of 341,270 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LAMR shares. TD Cowen raised their price target 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. Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley lifted 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 report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective 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. 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, Lamar Advertising presently has an average rating of “Hold” and an average target price of $133.40.

Lamar Advertising Trading Down 0.3 %

The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s 50-day moving average is $124.74 and its two-hundred day moving average is $127.31. The stock has a market cap of $12.48 billion, a P/E ratio of 34.54 and a beta of 1.51.

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

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.09%. The ex-dividend date is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s payout ratio is 158.64%.

Institutional Trading of Lamar Advertising

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 151 shares during the period. Brooklyn Investment Group acquired a new position in shares of Lamar Advertising in the 3rd quarter valued at about $25,000. Rialto Wealth Management LLC acquired a new position in Lamar Advertising during the 4th quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in Lamar Advertising during the 3rd quarter valued at approximately $26,000. Finally, Assetmark Inc. raised its stake in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

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.