According to Zacks, “Shares of Lamar have outperformed its industry over the past three months. Notably, its strong national presence, tenants from diverse industries and valuable permits augur well for growth. Further, fragmentation of other advertising media and technological advancements in the outdoor segment open up growth opportunities for Lamar. The company’s strategy to focus on portfolio upgradation and expansion will likely drive long-term profitability. Nonetheless, high investment expenditure for acquisitions is expected to take a toll on its balance sheet. Additionally, it faces competition from other outdoor advertisers and other forms of media in all its markets. This is expected to impact Lamar’s pricing power.”
Several other brokerages also recently weighed in on LAMR. BidaskClub downgraded shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Friday. MKM Partners raised their target price on shares of Lamar Advertising to $81.00 and gave the company a “neutral” rating in a research note on Thursday, February 21st. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Imperial Capital restated an “outperform” rating and issued a $88.00 target price (down from $94.00) on shares of Lamar Advertising in a research note on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $78.50.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.38). Lamar Advertising had a net margin of 18.76% and a return on equity of 28.12%. The business had revenue of $427.90 million for the quarter, compared to the consensus estimate of $426.29 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. Lamar Advertising’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts forecast that Lamar Advertising will post 5.59 earnings per share for the current fiscal year.
In other Lamar Advertising news, CEO Sean E. Reilly sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $78.64, for a total value of $3,932,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith A. Istre sold 22,263 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $76.84, for a total transaction of $1,710,688.92. Following the completion of the transaction, the chief financial officer now directly owns 135,185 shares of the company’s stock, valued at approximately $10,387,615.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,869 shares of company stock valued at $14,202,746. 15.64% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tompkins Financial Corp raised its holdings in shares of Lamar Advertising by 63.3% in the first quarter. Tompkins Financial Corp now owns 343 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 133 shares during the last quarter. Taylor Hoffman Wealth Management purchased a new position in shares of Lamar Advertising in the fourth quarter worth $26,000. Whittier Trust Co. raised its holdings in shares of Lamar Advertising by 336.2% in the fourth quarter. Whittier Trust Co. now owns 458 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 353 shares during the last quarter. Tributary Capital Management LLC purchased a new position in shares of Lamar Advertising in the fourth quarter worth $42,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Lamar Advertising by 70.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 765 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 316 shares during the last quarter. 82.27% of the stock is owned by institutional investors and hedge funds.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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