Lamar Advertising (NASDAQ:LAMR) Releases Quarterly Earnings Results, Misses Expectations By $0.71 EPS

Lamar Advertising (NASDAQ:LAMR) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71), RTT News reports. Lamar Advertising had a return on equity of 41.80% and a net margin of 23.29%. The company had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. During the same period last year, the firm posted $1.41 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Lamar Advertising updated its FY24 guidance to $7.75 to $7.90 EPS.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $115.08 on Friday. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55. The firm has a 50-day moving average of $114.99 and a two-hundred day moving average of $105.83. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 23.63 and a beta of 1.49.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.30 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.20 annualized dividend and a yield of 4.52%. Lamar Advertising’s payout ratio is presently 106.78%.

Insider Transactions at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $1,189,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 14.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Morgan Stanley boosted their target price on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Monday, February 26th.

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.