Lamar Advertising (NASDAQ:LAMR) Issues FY 2024 Earnings Guidance

Lamar Advertising (NASDAQ:LAMR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 4.970-4.990 for the period, compared to the consensus EPS estimate of 5.050. The company issued revenue guidance of -. Lamar Advertising also updated its FY24 guidance to $7.85-7.95 EPS.

Analyst Ratings Changes

A number of analysts have recently commented on LAMR shares. TD Cowen boosted their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company initiated coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price objective for the company. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $125.00.

Lamar Advertising Trading Down 4.7 %

LAMR opened at $128.58 on Friday. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 26.08 and a beta of 1.52. The company’s 50 day simple moving average is $131.75 and its two-hundred day simple moving average is $122.90. Lamar Advertising has a 1-year low of $91.20 and a 1-year high of $139.88. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same quarter in the previous year, the business posted $1.90 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.36%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is currently 113.59%.

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.