Lamar Advertising (NASDAQ:LAMR) Releases FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

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

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR traded down $3.60 during mid-day trading on Friday, reaching $115.08. The stock had a trading volume of 641,317 shares, compared to its average volume of 378,166. The business’s 50 day moving average price is $114.99 and its 200 day moving average price is $105.83. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $121.99. The company has a market cap of $11.75 billion, a P/E ratio of 23.63 and a beta of 1.49. The company has a current ratio of 0.52, a quick 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 the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.80% and a net margin of 23.29%. The firm had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. During the same period last year, the company earned $1.41 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. Research analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

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

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.98% of the stock is currently owned by insiders.

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.