Brokerages Anticipate Lamar Advertising Company (LAMR) Will Post Quarterly Sales of $396.20 Million
Equities analysts predict that Lamar Advertising Company (NASDAQ:LAMR) will post sales of $396.20 million for the current quarter, according to Zacks. Two analysts have issued estimates for Lamar Advertising’s earnings, with the highest sales estimate coming in at $398.90 million and the lowest estimate coming in at $393.50 million. Lamar Advertising posted sales of $386.72 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 28th.
On average, analysts expect that Lamar Advertising will report full year sales of $396.20 million for the current financial year, with estimates ranging from $1.52 billion to $1.54 billion. For the next fiscal year, analysts expect that the business will report sales of $1.58 billion per share, with estimates ranging from $1.56 billion to $1.61 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.34). The business had revenue of $399.30 million during the quarter, compared to analyst estimates of $392.10 million. Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share.
Several equities analysts recently issued reports on LAMR shares. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub cut Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Morgan Stanley reduced their price objective on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, September 18th. Citigroup reissued a “neutral” rating and set a $66.00 price target (down previously from $69.00) on shares of Lamar Advertising in a research report on Friday, August 11th. Finally, MKM Partners dropped their price target on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $73.00.
Shares of Lamar Advertising (LAMR) traded up $0.58 during mid-day trading on Friday, reaching $75.81. The company had a trading volume of 345,161 shares, compared to its average volume of 744,815. The firm has a market capitalization of $7,404.96, a PE ratio of 15.08, a PEG ratio of 5.19 and a beta of 1.15. Lamar Advertising has a 52-week low of $62.45 and a 52-week high of $79.09. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.38%. The ex-dividend date is Friday, December 15th. Lamar Advertising’s payout ratio is 105.40%.
A number of institutional investors have recently added to or reduced their stakes in LAMR. Janus Henderson Group PLC purchased a new position in Lamar Advertising during the second quarter worth $598,020,000. Victory Capital Management Inc. grew its position in shares of Lamar Advertising by 81.2% in the second quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock valued at $176,805,000 after purchasing an additional 1,077,170 shares during the period. BlackRock Inc. grew its position in shares of Lamar Advertising by 7.5% in the second quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock valued at $559,646,000 after purchasing an additional 528,392 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Lamar Advertising in the second quarter valued at $33,402,000. Finally, Renaissance Technologies LLC grew its position in shares of Lamar Advertising by 251.7% in the second quarter. Renaissance Technologies LLC now owns 391,800 shares of the real estate investment trust’s stock valued at $28,825,000 after purchasing an additional 280,388 shares during the period. 84.42% of the stock is owned by institutional investors.
About Lamar Advertising
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.
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