Wall Street brokerages expect Lamar Advertising Co (NASDAQ:LAMR) to post sales of $453.19 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Lamar Advertising’s earnings, with the lowest sales estimate coming in at $452.30 million and the highest estimate coming in at $454.07 million. Lamar Advertising reported sales of $418.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The company is expected to announce its next quarterly earnings report on Thursday, November 14th.
On average, analysts expect that Lamar Advertising will report full-year sales of $1.75 billion for the current financial year. For the next financial year, analysts anticipate that the company will post sales of $1.81 billion, with estimates ranging from $1.80 billion to $1.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.42). Lamar Advertising had a return on equity of 32.10% and a net margin of 21.39%. The firm had revenue of $448.74 million during the quarter, compared to analysts’ expectations of $451.85 million. During the same quarter in the previous year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year.
Shares of NASDAQ:LAMR traded down $1.69 during trading on Tuesday, hitting $74.56. The stock had a trading volume of 337,669 shares, compared to its average volume of 385,958. Lamar Advertising has a 12-month low of $64.51 and a 12-month high of $84.50. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 13.56 and a beta of 0.95. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.33. The stock has a 50-day simple moving average of $79.25 and a two-hundred day simple moving average of $79.54.
Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in Lamar Advertising by 169.5% during the first quarter. Parallel Advisors LLC now owns 318 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. First Interstate Bank purchased a new position in Lamar Advertising during the second quarter valued at approximately $27,000. Arcadia Investment Management Corp MI purchased a new position in Lamar Advertising during the second quarter valued at approximately $32,000. Penserra Capital Management LLC purchased a new position in Lamar Advertising during the first quarter valued at approximately $39,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Lamar Advertising during the first quarter valued at approximately $40,000. Institutional investors own 80.96% of the company’s stock.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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