Lamar Advertising (LAMR) Debt Trading 0.5% Lower

An issue of Lamar Advertising (NASDAQ:LAMR) bonds fell 0.5% against their face value during trading on Tuesday. The high-yield issue of debt has a 5.375% coupon and will mature on January 15, 2024. The bonds in the issue are now trading at $103.25. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its share price.

A number of research firms have recently issued reports on LAMR. Citigroup downgraded shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price target for the company. in a research report on Wednesday, December 20th. BidaskClub downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, MKM Partners lifted their price target on shares of Lamar Advertising from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, March 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $73.25.

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Shares of LAMR stock traded up $0.20 during midday trading on Tuesday, reaching $64.13. 567,649 shares of the company traded hands, compared to its average volume of 674,329. Lamar Advertising has a 1-year low of $61.36 and a 1-year high of $79.17. 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 company has a market cap of $6,278.69, a price-to-earnings ratio of 12.90, a PEG ratio of 4.14 and a beta of 1.05.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 quarter in the previous year, the business posted $0.81 earnings per share. Lamar Advertising’s revenue was up 3.0% on a year-over-year basis. sell-side analysts forecast that Lamar Advertising will post 5.14 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Monday, March 19th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.68%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Friday, March 16th. Lamar Advertising’s dividend payout ratio (DPR) is 72.08%.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Lamar Advertising by 0.3% during the 4th quarter. BlackRock Inc. now owns 7,690,836 shares of the real estate investment trust’s stock worth $570,968,000 after purchasing an additional 23,986 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Lamar Advertising by 8.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,807,177 shares of the real estate investment trust’s stock worth $208,404,000 after purchasing an additional 211,029 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Lamar Advertising by 54.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,064,563 shares of the real estate investment trust’s stock worth $153,273,000 after purchasing an additional 730,220 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Lamar Advertising by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 1,322,819 shares of the real estate investment trust’s stock worth $98,206,000 after purchasing an additional 3,808 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Lamar Advertising by 64.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,068,212 shares of the real estate investment trust’s stock worth $79,304,000 after purchasing an additional 420,412 shares in the last quarter. 84.45% of the stock is owned by institutional investors and hedge funds.

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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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