Lamar Advertising (NASDAQ:LAMR) Releases FY24 Earnings Guidance

by · The Cerbat Gem

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

Lamar Advertising Stock Down 4.7 %

LAMR stock opened at $128.58 on Monday. The company has a market cap of $13.15 billion, a PE ratio of 25.72 and a beta of 1.52. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a twelve month low of $91.20 and a twelve month high of $139.88. The business’s 50-day simple moving average is $131.75 and its 200 day simple moving average is $122.90.

Lamar Advertising (NASDAQ:LAMR – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. Lamar Advertising’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 earnings per share. On average, research analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.36%. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is currently 112.00%.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. TD Cowen raised 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 research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $125.00.

View Our Latest Analysis on LAMR

About Lamar Advertising

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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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