Lamar Advertising Co (LAMR) was Initiated by Loop Capital to “Buy” and the brokerage firm has set the Price Target at $82. Loop Capital advised their investors in a research report released on Sep 13, 2016.
Many Wall Street Analysts have commented on Lamar Advertising Co. Gabelli & Co Downgraded Lamar Advertising Co on Jul 22, 2016 to ” Hold”, Price Target of the shares are set at $64.
On the company’s financial health, Lamar Advertising Co reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.83. The company had revenue of $387.50 million for the quarter, compared to analysts expectations of $384.07 million. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.
Lamar Advertising Co opened for trading at $60.16 and hit $61.44 on the upside on Monday, eventually ending the session at $61.23, with a gain of 1.63% or 0.98 points. The heightened volatility saw the trading volume jump to 633,418 shares. Company has a market cap of $5,967 M.
Investors should note that on Aug 29, 2016, Lamar Advertising Co announced a cash dividend of $0.7600. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.
In a different news, on Jun 20, 2016, Stephen P Mumblow (director) sold 10,000 shares at $63.50 per share price. According to the SEC, on May 10, 2016, Keith A Istre (Chief Financial Officer) sold 8,918 shares at $63.47 per share price. On Jan 22, 2016, Wendell Reilly (director) sold 18,075 shares at $60.00 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.