Analysts Expect Lamar Advertising Company (LAMR) Will Post Quarterly Sales of $393.08 Million
Brokerages expect Lamar Advertising Company (NASDAQ:LAMR) to report $393.08 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Lamar Advertising’s earnings. The highest sales estimate is $393.33 million and the lowest is $392.82 million. Lamar Advertising posted sales of $387.52 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Lamar Advertising will report full-year sales of $393.08 million for the current fiscal year, with estimates ranging from $1.52 billion to $1.53 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.57 billion per share, with estimates ranging from $1.56 billion to $1.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.37. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The business had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $399.09 million. During the same period in the previous year, the business earned $0.84 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis.
Several brokerages recently weighed in on LAMR. Citigroup Inc. reissued a “neutral” rating and issued a $66.00 target price (down previously from $69.00) on shares of Lamar Advertising in a research note on Friday, August 11th. BidaskClub cut Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. MKM Partners lowered their price target on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. Finally, Wells Fargo & Company cut Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $73.40.
Several hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in shares of Lamar Advertising during the first quarter worth about $169,000. Westpac Banking Corp purchased a new stake in shares of Lamar Advertising during the second quarter worth about $176,000. Verity Asset Management Inc. purchased a new stake in shares of Lamar Advertising during the second quarter worth about $204,000. Creative Planning boosted its stake in shares of Lamar Advertising by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 290 shares during the last quarter. Finally, HL Financial Services LLC purchased a new stake in shares of Lamar Advertising during the first quarter worth about $217,000. Institutional investors and hedge funds own 85.10% of the company’s stock.
Shares of Lamar Advertising (NASDAQ LAMR) opened at 66.15 on Tuesday. Lamar Advertising has a 12-month low of $58.68 and a 12-month high of $79.09.
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Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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