Lamar Advertising (NASDAQ:LAMR) Updates FY24 Earnings Guidance

Lamar Advertising (NASDAQ:LAMR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $7.75 to $7.90 for the period, compared to the consensus earnings per share estimate of $8.09.

Lamar Advertising Trading Down 3.0 %

NASDAQ LAMR traded down $3.60 on Friday, hitting $115.08. The company’s stock had a trading volume of 641,317 shares, compared to its average volume of 378,166. The company’s 50-day moving average is $114.99 and its 200 day moving average is $105.83. The firm has a market cap of $11.75 billion, a PE ratio of 23.63 and a beta of 1.49. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $121.99. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.80% and a net margin of 23.29%. The company had revenue of $498.15 million for the quarter, compared to the consensus estimate of $496.98 million. During the same quarter last year, the business earned $1.41 earnings per share. Lamar Advertising’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Thursday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s payout ratio is presently 106.78%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LAMR. Morgan Stanley upped their price target on Lamar Advertising from $105.00 to $110.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. JPMorgan Chase & Co. increased their price target on Lamar Advertising from $92.00 to $109.00 and gave the company a neutral rating in a research report on Monday, February 26th. Finally, StockNews.com raised shares of Lamar Advertising from a hold rating to a buy rating in a report on Tuesday, March 5th.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 14.98% of the company’s stock.

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.