JPMorgan Chase & Co. Cuts Lamar Advertising (NASDAQ:LAMR) Price Target to $126.00

Lamar Advertising (NASDAQ:LAMR) had its target price trimmed by JPMorgan Chase & Co. from $129.00 to $126.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the company. TD Cowen increased their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company decreased their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $133.40.

Lamar Advertising Stock Down 0.3 %

Shares of NASDAQ:LAMR opened at $121.91 on Friday. Lamar Advertising has a 52-week low of $107.22 and a 52-week high of $139.88. The stock has a market cap of $12.48 billion, a P/E ratio of 34.54 and a beta of 1.51. The business’s 50 day moving average is $124.60 and its 200 day moving average is $127.59. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Sell-side analysts predict 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. Stockholders of record on Friday, March 14th will be paid a dividend of $1.55 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.09%. Lamar Advertising’s dividend payout ratio is 175.64%.

Institutional Investors Weigh In On Lamar Advertising

A number of hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in 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 buying an additional 151 shares in the last quarter. Brooklyn Investment Group purchased a new position in Lamar Advertising in the third quarter valued at about $25,000. Rialto Wealth Management LLC purchased a new position in Lamar Advertising in the fourth quarter valued at about $25,000. Concord Wealth Partners purchased a new position in Lamar Advertising in the third quarter valued at about $26,000. Finally, Assetmark Inc. increased its holdings in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Company Profile

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.