Lamar Advertising (LAMR) NewsBite - Q1 Loss Beats Estimates

Posted: Thursday, May 07, 2009 10:55 AM EDT

Lamar Advertising (NasdaqNM: LAMR) opened at $18.78. So far today, the stock has hit a low of $18.78 and a high of $22.79. LAMR is now trading at $22.03, up $3.53 (19.08%). Over the last 52 weeks the stock has ranged from a low of $5.35 to a high of $42.64. Shares of LAMR are rising this morning after the company said it lost $21.42 million or 23 cents per share, during the first quarter. Analysts had expected the company to lose 28 cents per share. Technical indicators for the stock are bullish and S&P gives LAMR a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on LAMR the stock seems like it could be a candidate for a June out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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