Lamar Advertising (NASDAQ:LAMR) Issues Earnings Results

by · The Cerbat Gem

Lamar Advertising (NASDAQ:LAMR – Get Free Report) issued its quarterly earnings data on Friday. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73), Zacks reports. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. During the same period in the prior year, the company earned $2.04 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Lamar Advertising updated its FY 2024 guidance to 4.970-4.990 EPS and its FY24 guidance to $7.85-7.95 EPS.

Lamar Advertising Price Performance

NASDAQ LAMR traded up $1.46 during trading on Monday, hitting $130.04. 673,874 shares of the company’s stock were exchanged, compared to its average volume of 405,563. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The company has a market cap of $13.30 billion, a PE ratio of 26.10 and a beta of 1.52. Lamar Advertising has a fifty-two week low of $91.20 and a fifty-two week high of $139.88. The stock’s 50 day moving average price is $131.75 and its two-hundred day moving average price is $122.96.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.31%. Lamar Advertising’s payout ratio is presently 112.00%.

Analysts Set New Price Targets

LAMR has been the topic of a number of research analyst reports. TD Cowen increased their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Morgan Stanley raised their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday. Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $132.40.

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About Lamar Advertising

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Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.

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