Lamar Advertising (LAMR) to Release Quarterly Earnings on Thursday

Lamar Advertising (NASDAQ:LAMR) is scheduled to announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.36 per share for the quarter. Lamar Advertising has set its FY 2024 guidance at 5.020-5.070 EPS and its FY24 guidance at $7.67-7.82 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.49). The business had revenue of $555.91 million during the quarter, compared to the consensus estimate of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same period in the prior year, the firm earned $1.91 earnings per share. On average, analysts expect Lamar Advertising to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Lamar Advertising Stock Performance

LAMR opened at $115.85 on Wednesday. The stock has a market cap of $11.82 billion, a PE ratio of 23.89 and a beta of 1.50. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $121.99. The stock’s 50 day simple moving average is $114.58 and its 200-day simple moving average is $105.31.

Lamar Advertising Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.49%. Lamar Advertising’s payout ratio is currently 107.22%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LAMR. Morgan Stanley boosted their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $1,189,700. The transaction was disclosed in a legal 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.