Lamar Advertising (NASDAQ:LAMR) Updates FY24 Earnings Guidance

Lamar Advertising (NASDAQ:LAMR) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $7.85-7.95 for the period, compared to the consensus earnings per share estimate of $8.04. Lamar Advertising also updated its FY 2024 guidance to 4.970-4.990 EPS.

Lamar Advertising Stock Performance

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

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

Lamar Advertising Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.15%. Lamar Advertising’s dividend payout ratio is 113.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company started coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen increased their price objective 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. Finally, Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $125.00.

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.