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

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

Lamar Advertising Stock Down 4.7 %

Shares of NASDAQ LAMR opened at $128.58 on Friday. The firm’s 50 day moving average price is $131.75 and its 200 day moving average price is $122.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $13.15 billion, a P/E ratio of 26.08 and a beta of 1.52. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (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 business had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. During the same period in the previous year, the business posted $1.90 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a dividend yield of 4.36%. Lamar Advertising’s dividend payout ratio (DPR) is currently 113.59%.

Analyst Ratings Changes

LAMR has been the topic of a number of recent analyst reports. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company assumed coverage on Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, TD Cowen raised their price objective on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $125.00.

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.