Lamar Advertising (NASDAQ:LAMR – Get Free Report) released its earnings results on Thursday. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71), RTT News reports. Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The company had revenue of $498.15 million for the quarter, compared to the consensus estimate of $496.98 million. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue 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 Price Performance
Shares of LAMR traded down $3.60 during mid-day trading on Friday, reaching $115.08. The company had a trading volume of 641,317 shares, compared to its average volume of 419,358. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 23.73 and a beta of 1.49. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52. The company’s 50 day simple moving average is $114.99 and its 200 day simple moving average is $105.69. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $121.99.
Lamar Advertising Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.20 dividend on an annualized basis and a dividend 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 107.22%.
Insider Buying and Selling
Analysts Set New Price Targets
A number of brokerages have issued reports on LAMR. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Morgan Stanley boosted their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th.
Get Our Latest Research Report on Lamar Advertising
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.
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