Lamar Advertising Co (LAMR) is Reiterated by MKM Partners to Neutral, Raises Price Target to $ 65

Lamar Advertising Co (LAMR) was Reiterated by MKM Partners to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 65 from a previous price target of $57 . MKM Partners advised their investors in a research report released on May 5, 2016.

Many Wall Street Analysts have commented on Lamar Advertising Co. Shares were Reiterated by MKM Partners on Feb 24, 2016 to “Neutral” and Lowered the Price Target to $ 57 from a previous price target of $64 .Shares were Reiterated by Wedbush on Feb 24, 2016 to “Neutral” and Lowered the Price Target to $ 65 from a previous price target of $67 .

On the company’s financial health, Lamar Advertising Co reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.92. The company had revenue of $338.50 million for the quarter, compared to analysts expectations of $333.90 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Lamar Advertising Co opened for trading at $62.08 and hit $63.93 on the upside on Wednesday, eventually ending the session at $63.33, with a gain of 1.98% or 1.23 points. The heightened volatility saw the trading volume jump to 8,10,227 shares. Company has a market cap of $6,124 M.

In a different news, on Jan 22, 2016, Wendell Reilly (director) sold 18,075 shares at $60.00 per share price. According to the SEC, on Nov 12, 2015, Stephen P Mumblow (director) sold 6,000 shares at $58.33 per share price. On May 13, 2015, Anna Reilly (director) sold 10,000 shares at $59.34 per share price, according to the Form-4 filing with the securities and exchange commission.

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. As of December 31 2012 the Company owned and operated over 144000 billboard advertising displays in 44 states Canada and Puerto Rico over 115000 logo advertising displays in 22 states and the province of Ontario Canada and operated over 34000 transit advertising displays in 15 states Canada and Puerto Rico. In August 2014 the Company acquired the assets of Marco Outdoor Advertising Inc.

Lamar Advertising Co

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