Lamar Advertising (NASDAQ:LAMR) Downgraded to “Buy” at StockNews.com

Lamar Advertising (NASDAQ:LAMRGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

A number of other research analysts also recently weighed in on the company. Morgan Stanley cut their price objective on Lamar Advertising from $138.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 28th. Wolfe Research initiated coverage on Lamar Advertising in a research note on Tuesday, March 29th. They issued a “market perform” rating and a $131.00 price objective on the stock.

Shares of LAMR traded up $0.84 during midday trading on Thursday, reaching $97.83. 441,740 shares of the stock were exchanged, compared to its average volume of 472,398. Lamar Advertising has a 12-month low of $89.14 and a 12-month high of $124.32. The firm has a 50 day simple moving average of $107.21 and a 200-day simple moving average of $110.84. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 2.43. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 22.49 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMRGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. The company had revenue of $451.40 million during the quarter, compared to the consensus estimate of $427.21 million. During the same period last year, the business earned $1.15 EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. Research analysts expect that Lamar Advertising will post 6.95 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First National Bank of Omaha increased its position in Lamar Advertising by 41.1% in the 1st quarter. First National Bank of Omaha now owns 12,893 shares of the real estate investment trust’s stock worth $1,497,000 after buying an additional 3,756 shares during the period. Castellan Group increased its position in Lamar Advertising by 13.5% in the 1st quarter. Castellan Group now owns 21,762 shares of the real estate investment trust’s stock worth $2,528,000 after buying an additional 2,585 shares during the period. EP Wealth Advisors LLC increased its position in Lamar Advertising by 2.8% in the 1st quarter. EP Wealth Advisors LLC now owns 4,129 shares of the real estate investment trust’s stock worth $480,000 after buying an additional 112 shares during the period. BNP Paribas Arbitrage SA increased its position in Lamar Advertising by 2.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 24,991 shares of the real estate investment trust’s stock worth $2,903,000 after buying an additional 555 shares during the period. Finally, Keeley Teton Advisors LLC increased its position in Lamar Advertising by 4.7% in the 1st quarter. Keeley Teton Advisors LLC now owns 38,369 shares of the real estate investment trust’s stock worth $4,458,000 after buying an additional 1,736 shares during the period. 78.03% of the stock is currently owned by institutional investors.

About Lamar Advertising (Get Rating)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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