An issue of Lamar Advertising (NASDAQ:LAMR) bonds fell 0.5% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 5.375% coupon and is set to mature on January 15, 2024. The debt is now trading at $103.25. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.
LAMR has been the topic of a number of analyst reports. BidaskClub lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Citigroup lowered Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price objective on the stock. in a research note on Wednesday, December 20th. Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley increased their price objective on Lamar Advertising from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $73.25.
LAMR opened at $64.13 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.30. The firm has a market cap of $6,278.69, a P/E ratio of 12.70, a P/E/G ratio of 4.14 and a beta of 1.05. Lamar Advertising has a 52 week low of $61.36 and a 52 week high of $79.17.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.37). Lamar Advertising had a net margin of 20.61% and a return on equity of 29.41%. The company had revenue of $398.50 million for the quarter, compared to analyst estimates of $395.71 million. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. equities analysts predict that Lamar Advertising will post 5.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 19th were given a dividend of $0.91 per share. The ex-dividend date was Friday, March 16th. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 5.68%. Lamar Advertising’s dividend payout ratio is 72.08%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB purchased a new position in Lamar Advertising during the fourth quarter worth about $541,000. Envestnet Asset Management Inc. lifted its position in Lamar Advertising by 7.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 17,860 shares of the real estate investment trust’s stock worth $1,326,000 after buying an additional 1,164 shares during the period. Csenge Advisory Group lifted its position in Lamar Advertising by 14.0% during the fourth quarter. Csenge Advisory Group now owns 11,994 shares of the real estate investment trust’s stock worth $890,000 after buying an additional 1,474 shares during the period. MetLife Investment Advisors LLC purchased a new position in Lamar Advertising during the fourth quarter worth about $3,946,000. Finally, Vident Investment Advisory LLC lifted its position in Lamar Advertising by 76.5% during the fourth quarter. Vident Investment Advisory LLC now owns 10,351 shares of the real estate investment trust’s stock worth $769,000 after buying an additional 4,485 shares during the period. Hedge funds and other institutional investors own 84.45% of the company’s stock.
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About Lamar Advertising
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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