Lamar Advertising (NASDAQ:LAMR) Releases FY24 Earnings Guidance

Lamar Advertising (NASDAQ:LAMR) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $7.85-7.95 for the period, compared to the consensus estimate of $8.04. Lamar Advertising also updated its FY 2024 guidance to 4.970-4.990 EPS.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price for the company. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research note on Thursday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, TD Cowen boosted their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.00.

Lamar Advertising Stock Up 2.2 %

Shares of NASDAQ LAMR opened at $134.99 on Friday. Lamar Advertising has a 12-month low of $91.20 and a 12-month high of $139.88. The stock has a market cap of $13.81 billion, a PE ratio of 27.38 and a beta of 1.52. 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 50-day moving average of $131.69 and a 200 day moving average of $122.74.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same period in the prior year, the company posted $1.90 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.15%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 113.59%.

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.