Lamar Advertising (NASDAQ:LAMR) Updates FY 2024 Earnings Guidance

Lamar Advertising (NASDAQ:LAMR) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.950-5.010 for the period, compared to the consensus earnings per share estimate of 5.220. The company issued revenue guidance of -.

Lamar Advertising Trading Down 3.0 %

LAMR stock traded down $3.60 during mid-day trading on Friday, reaching $115.08. The company had a trading volume of 641,317 shares, compared to its average volume of 419,358. The firm has a 50 day moving average of $114.89 and a 200 day moving average of $105.48. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.52 and a quick ratio of 0.52. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $121.99. The company has a market capitalization of $11.75 billion, a PE ratio of 24.47 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). The company had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. On average, equities analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s payout ratio is presently 107.22%.

Wall Street Analyst Weigh In

LAMR has been the subject of several recent research reports. Morgan Stanley increased their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an equal weight rating in a research note on Monday, February 26th. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $92.00 to $109.00 and gave the company a neutral rating in a research note on Monday, February 26th. Finally, StockNews.com upgraded Lamar Advertising from a hold rating to a buy rating in a report on Tuesday, March 5th.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.98% of the stock is owned by insiders.

Lamar Advertising Company Profile

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.