Lamar Advertising (NASDAQ:LAMR) Issues 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 (EPS) guidance of 4.970-4.990 for the period, compared to the consensus 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 Trading Down 4.7 %

NASDAQ LAMR opened at $128.58 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a market capitalization of $13.15 billion, a P/E ratio of 26.08 and a beta of 1.52. The firm’s 50-day moving average is $131.75 and its two-hundred day moving average is $122.90. Lamar Advertising has a 12 month low of $91.20 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released 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). The company had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. Lamar Advertising’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.90 earnings per share. On average, sell-side analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.36%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio is 113.59%.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Company Profile

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.