Lamar Advertising (NASDAQ:LAMR – Get Free Report) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $496.98 million. During the same period in the prior year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Lamar Advertising updated its FY24 guidance to $7.75 to $7.90 EPS.
Lamar Advertising Stock Performance
Shares of LAMR stock opened at $115.08 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55. The company has a 50 day moving average price of $114.99 and a 200-day moving average price of $105.83. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $121.99. The firm has a market capitalization of $11.75 billion, a PE ratio of 23.63 and a beta of 1.49.
Lamar Advertising Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.20 annualized dividend and a yield of 4.52%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s dividend payout ratio is currently 106.78%.
Wall Street Analyst Weigh In
View Our Latest Analysis on Lamar Advertising
Insider Activity at Lamar Advertising
In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.
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