Lamar Advertising (NASDAQ:LAMR – Get Free Report) announced its quarterly earnings data on Friday. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73), Zacks reports. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the prior year, the company posted $2.04 EPS. Lamar Advertising’s revenue for the quarter was up 4.0% on a year-over-year basis. Lamar Advertising updated its FY 2024 guidance to 4.970-4.990 EPS and its FY24 guidance to $7.85-7.95 EPS.
Lamar Advertising Stock Up 1.1 %
LAMR stock traded up $1.46 during trading on Monday, reaching $130.04. The stock had a trading volume of 673,874 shares, compared to its average volume of 405,563. Lamar Advertising has a one year low of $91.20 and a one year high of $139.88. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The company’s 50 day moving average is $131.75 and its two-hundred day moving average is $122.96. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 26.10 and a beta of 1.52.
Lamar Advertising Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is currently 112.00%.
Wall Street Analysts Forecast Growth
View Our Latest Report on LAMR
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.
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