Lamar Advertising (NASDAQ:LAMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, January 9th.
According to Zacks, “Shares of Lamar have outperformed its industry, over the past year. Moreover, the stock has seen the Zacks Consensus Estimate for 2017 funds from operations (FFO) per share remaining unchanged in a months’ time. Notably, Lamar’s strong national presence, tenants from diverse industries and valuable permits augur well for its growth. Moreover, the company’s strategy to focus on portfolio upgradation and expansion is expected to drive long-term profitability. Nonetheless, the gloomy environment in the national advertising market remains a concern for the company. Further, high investment expenditures for acquisitions are likely to take a toll on Lamar’s balance sheet.”
A number of other equities analysts have also weighed in on the stock. Citigroup lowered shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price for the company. in a research report on Wednesday, December 20th. BidaskClub upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Morgan Stanley lowered their price objective on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, September 18th. Finally, ValuEngine lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Lamar Advertising currently has a consensus rating of “Hold” and an average price target of $71.75.
Lamar Advertising (NASDAQ LAMR) opened at $72.00 on Tuesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55. Lamar Advertising has a 12-month low of $62.45 and a 12-month high of $79.17. The firm has a market cap of $7,026.00, a price-to-earnings ratio of 22.86, a P/E/G ratio of 4.63 and a beta of 1.15.
Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The company had revenue of $399.30 million for the quarter, compared to the consensus estimate of $392.10 million. During the same quarter in the prior year, the company posted $0.87 EPS. Lamar Advertising’s revenue was up 3.0% compared to the same quarter last year. analysts expect that Lamar Advertising will post 4.84 EPS for the current year.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $78.33, for a total transaction of $313,320.00. Following the completion of the transaction, the director now owns 11,031 shares in the company, valued at $864,058.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.70% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. IFG Advisory LLC bought a new stake in shares of Lamar Advertising in the 4th quarter worth about $230,000. Westpac Banking Corp bought a new stake in shares of Lamar Advertising in the 2nd quarter worth about $176,000. San Francisco Sentry Investment Group CA bought a new stake in shares of Lamar Advertising in the 3rd quarter worth about $164,000. Verity Asset Management Inc. bought a new stake in shares of Lamar Advertising in the 2nd quarter worth about $204,000. Finally, Argent Trust Co bought a new stake in shares of Lamar Advertising in the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 84.45% of the company’s stock.
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Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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