Lamar Advertising Company (LAMR) Expected to Announce Earnings of $1.36 Per Share
Wall Street analysts predict that Lamar Advertising Company (NASDAQ:LAMR) will post earnings of $1.36 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Lamar Advertising’s earnings. Lamar Advertising posted earnings of $0.87 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 56.3%. The business is scheduled to announce its next quarterly earnings results before the market opens on Monday, November 6th.
According to Zacks, analysts expect that Lamar Advertising will report full year earnings of $4.96 per share for the current fiscal year. For the next fiscal year, analysts forecast that the firm will post earnings of $5.11 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.37). Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The business had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $399.09 million. During the same quarter in the previous year, the firm posted $0.84 EPS. Lamar Advertising’s revenue was up 2.5% on a year-over-year basis.
Several research firms have commented on LAMR. Zacks Investment Research raised Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Wells Fargo & Company lowered Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, MKM Partners cut their price target on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $73.00.
Shares of Lamar Advertising (NASDAQ:LAMR) traded down 0.67% during midday trading on Friday, hitting $68.31. The stock had a trading volume of 1,128,749 shares. The firm has a 50 day moving average price of $66.40 and a 200 day moving average price of $69.55. The stock has a market cap of $6.70 billion, a PE ratio of 22.40 and a beta of 1.09. Lamar Advertising has a one year low of $58.68 and a one year high of $79.09.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Thursday, September 14th. Lamar Advertising’s dividend payout ratio (DPR) is 109.21%.
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Several hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC purchased a new position in shares of Lamar Advertising in the 2nd quarter valued at approximately $598,020,000. BlackRock Inc. grew its stake in shares of Lamar Advertising by 7.5% in the 2nd quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock valued at $559,646,000 after purchasing an additional 528,392 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Lamar Advertising by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,742,042 shares of the real estate investment trust’s stock valued at $496,013,000 after purchasing an additional 139,256 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Lamar Advertising by 81.2% in the 2nd quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock valued at $176,805,000 after purchasing an additional 1,077,170 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Lamar Advertising by 2.7% in the 2nd quarter. State Street Corp now owns 2,225,264 shares of the real estate investment trust’s stock valued at $163,707,000 after purchasing an additional 58,453 shares during the last quarter. Institutional investors own 85.06% of the company’s stock.
About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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