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 -.

Wall Street Analyst Weigh In

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

Lamar Advertising Stock Down 3.0 %

Shares of Lamar Advertising stock traded down $3.60 during trading hours on Friday, reaching $115.08. 641,317 shares of the company’s stock were exchanged, compared to its average volume of 419,358. The stock has a market cap of $11.75 billion, a P/E ratio of 24.47 and a beta of 1.49. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $121.99. The company has a 50 day moving average of $114.89 and a two-hundred day moving average of $105.48. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55.

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

Lamar Advertising Increases Dividend

The company also recently declared 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. This represents a $5.20 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is presently 107.22%.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 14.98% of the company’s stock.

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.