Key Points
- Lamar Advertising CFO Jay Johnson sold 7,600 shares at an average price of $156.92, for proceeds of about $1.19 million; the sale was disclosed in an SEC filing.
- The company raised its quarterly dividend from $1.60 to $1.65 per share, equivalent to an annualized $6.60 dividend and a reported 4.0% yield.
- Analysts have a consensus Hold rating and an average price target of $161.50. Lamar shares opened at $163.40 on Wednesday, up 2.9%.
Lamar Advertising Company (NASDAQ:LAMR - Get Free Report) CFO Jay Johnson sold 7,600 shares of the company's stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $156.92, for a total transaction of $1,192,592.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Lamar Advertising Stock Up 2.9%
Shares of NASDAQ:LAMR opened at $163.40 on Wednesday. The stock has a market capitalization of $16.59 billion, a P/E ratio of 18.10 and a beta of 1.23. The stock's 50-day moving average price is $150.21 and its 200-day moving average price is $145.65. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.16. Lamar Advertising Company has a 12-month low of $122.31 and a 12-month high of $166.33.
Lamar Advertising Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a dividend of $1.65 per share. The ex-dividend date was Monday, September 21st. This represents a $6.60 annualized dividend and a yield of 4.0%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.60. Lamar Advertising's dividend payout ratio (DPR) is currently 116.40%.
Wall Street Analysts Forecast Growth
LAMR has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Lamar Advertising from $160.00 to $161.00 and gave the stock a "neutral" rating in a research note on Friday, November 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Lamar Advertising in a research report on Wednesday, August 19th. Morgan Stanley set a $170.00 price objective on Lamar Advertising in a research note on Friday, August 7th. Finally, Wells Fargo & Company increased their price objective on Lamar Advertising from $156.00 to $158.00 and gave the company an "equal weight" rating in a research note on Friday, November 6th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $161.50.
View Our Latest Analysis on Lamar Advertising
Hedge Funds Weigh In On Lamar Advertising
Hedge funds have recently modified their holdings of the company. ZWJ Investment Counsel Inc. raised its holdings in shares of Lamar Advertising by 4.8% during the third quarter. ZWJ Investment Counsel Inc. now owns 1,607 shares of the real estate investment trust's stock valued at $232,000 after acquiring an additional 74 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in Lamar Advertising by 0.9% in the first quarter. First Citizens Bank & Trust Co. now owns 8,821 shares of the real estate investment trust's stock worth $1,117,000 after acquiring an additional 75 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Lamar Advertising by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 7,523 shares of the real estate investment trust's stock valued at $953,000 after acquiring an additional 78 shares in the last quarter. REAP Financial Group LLC boosted its holdings in Lamar Advertising by 9.3% in the third quarter. REAP Financial Group LLC now owns 948 shares of the real estate investment trust's stock valued at $137,000 after acquiring an additional 81 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Lamar Advertising by 53.8% in the second quarter. Parkside Financial Bank & Trust now owns 243 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.
Lamar Advertising Company Profile
(
Get Free Report)
Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations. The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.
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