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

Lamar Advertising (NASDAQ:LAMR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.970-4.990 for the period, compared to the consensus estimate of 5.050. The company issued revenue guidance of -.

Lamar Advertising Stock Up 2.2 %

Lamar Advertising stock opened at $134.99 on Friday. The company’s 50-day moving average price is $131.69 and its two-hundred day moving average price is $122.74. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a market cap of $13.81 billion, a P/E ratio of 27.38 and a beta of 1.52. Lamar Advertising has a twelve month low of $91.20 and a twelve month high of $139.88.

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

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.15%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 113.59%.

Analyst Upgrades and Downgrades

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

About Lamar Advertising

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.