Lamar Advertising (NASDAQ:LAMR) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.44), MarketWatch Earnings reports. Lamar Advertising had a net margin of 18.93% and a return on equity of 27.75%. The company had revenue of $418.50 million during the quarter, compared to the consensus estimate of $421.29 million. During the same quarter last year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis.
Shares of NASDAQ:LAMR traded up $2.14 during midday trading on Friday, reaching $76.27. The company’s stock had a trading volume of 8,235 shares, compared to its average volume of 494,622. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 15.05 and a beta of 1.13. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.48 and a quick ratio of 1.48. Lamar Advertising has a fifty-two week low of $61.36 and a fifty-two week high of $80.68.
A number of equities research analysts have commented on the company. BidaskClub upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Citigroup upped their price target on Lamar Advertising from $68.00 to $69.00 and gave the company a “sell” rating in a research report on Wednesday, August 15th. ValuEngine upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Wells Fargo & Co upped their price target on Lamar Advertising from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $77.33.
Several large investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its stake in Lamar Advertising by 6.1% during the 3rd quarter. Alliancebernstein L.P. now owns 385,860 shares of the real estate investment trust’s stock worth $30,020,000 after buying an additional 22,115 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Lamar Advertising during the 3rd quarter worth approximately $471,000. Piedmont Investment Advisors Inc. raised its stake in Lamar Advertising by 182,333.3% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 5,473 shares of the real estate investment trust’s stock worth $426,000 after buying an additional 5,470 shares during the period. Swiss National Bank raised its stake in Lamar Advertising by 0.6% during the 3rd quarter. Swiss National Bank now owns 146,638 shares of the real estate investment trust’s stock worth $11,408,000 after buying an additional 900 shares during the period. Finally, Commonwealth Bank of Australia acquired a new position in Lamar Advertising during the 3rd quarter worth approximately $739,000. 83.49% of the stock is currently owned by institutional investors.
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About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 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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