Lamar Advertising (NASDAQ:LAMR) Updates FY24 Earnings Guidance

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

Lamar Advertising Price Performance

Shares of LAMR stock traded down $3.60 during trading hours on Friday, reaching $115.08. The company 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 capitalization of $11.75 billion, a price-to-earnings ratio of 23.63 and a beta of 1.49. The stock has a fifty day moving average of $114.99 and a 200-day moving average of $105.83.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.80%. The firm had revenue of $498.15 million during the quarter, compared to analysts’ expectations of $496.98 million. During the same period last year, the company earned $1.41 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.30 per share. This is a positive change 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 was Thursday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is currently 106.78%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LAMR. JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $92.00 to $109.00 and gave the company a neutral rating in a research note on Monday, February 26th. Morgan Stanley lifted their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an equal weight rating in a research note on Monday, February 26th. Finally, StockNews.com upgraded shares of Lamar Advertising from a hold rating to a buy rating in a research note on Tuesday, March 5th.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $1,189,700. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.98% of the stock is owned by insiders.

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.