Lamar Advertising (LAMR) NewsBite - LAMR Earnings Beat Forecasts

Posted: Thursday, November 05, 2009 11:24 AM EDT

Lamar Advertising (NasdaqNM: LAMR) opened at $28.94. So far today, the stock has hit a low of $27.25 and a high of $29.00. LAMR is now trading at $28.90, up $3.84 (15.32%). Over the last 52 weeks the stock has ranged from a low of $5.35 to a high of $30.68. LAMR reported a third-quarter loss this morning of $4.87 million, or 5 cents per share, on revenue of $271.77 million, beating analysts' forecasts of a 16-cent loss on revenue of $265.48 million. Technical indicators for the stock are bearish and S&P gives LAMR a negative 1 STARS (out of 5) strong sell ranking. If you are looking for a hedged play on LAMR the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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