Lamar Advertising (NASDAQ:LAMR) Updates FY24 Earnings Guidance

Lamar Advertising (NASDAQ:LAMR) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $7.85-7.95 for the period, compared to the consensus earnings per share estimate of $8.04. Lamar Advertising also updated its FY 2024 guidance to 4.970-4.990 EPS.

Analyst Upgrades and Downgrades

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

Lamar Advertising Stock Performance

LAMR opened at $128.58 on Monday. Lamar Advertising has a fifty-two week low of $91.20 and a fifty-two week high of $139.88. The firm has a market cap of $13.15 billion, a PE ratio of 25.72 and a beta of 1.52. 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 business has a fifty day simple moving average of $131.75 and a 200-day simple moving average of $122.90.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm 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%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 EPS. As a group, equities analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.36%. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

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.