Lamar Advertising (NASDAQ:LAMR – Get Free Report) announced its earnings results on Thursday. 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), RTT News reports. The company had revenue of $498.15 million during the quarter, compared to the consensus estimate of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.80%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. Lamar Advertising updated its FY24 guidance to $7.75 to $7.90 EPS.
Lamar Advertising Trading Down 3.0 %
Shares of NASDAQ:LAMR traded down $3.60 during mid-day trading on Friday, hitting $115.08. The stock had a trading volume of 641,317 shares, compared to its average volume of 378,166. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $121.99. 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 has a market cap of $11.75 billion, a PE ratio of 23.63 and a beta of 1.49. The company’s 50 day moving average is $114.99 and its 200-day moving average is $105.69.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.30 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.
Insider Buying and Selling at Lamar Advertising
Analysts Set New Price Targets
Several equities research analysts recently commented on LAMR shares. Morgan Stanley boosted their target price on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Finally, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th.
Read Our Latest Stock Analysis 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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