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 guidance of 4.970-4.990 for the period, compared to the consensus earnings per share estimate of 5.050. The company issued revenue guidance of -.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $134.99 on Friday. The stock has a market capitalization of $13.81 billion, a PE ratio of 27.38 and a beta of 1.52. The business’s 50 day simple moving average is $131.69 and its 200 day simple moving average is $122.74. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. Lamar Advertising has a one year low of $91.20 and a one year high of $139.88.

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

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. 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. This represents a $5.60 annualized dividend and a yield of 4.15%. Lamar Advertising’s payout ratio is presently 113.59%.

Analyst Ratings Changes

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