Brokerages expect that Lamar Advertising (NASDAQ:LAMR) will announce sales of $416.71 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Lamar Advertising’s earnings. The lowest sales estimate is $415.50 million and the highest is $417.92 million. Lamar Advertising posted sales of $397.08 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The business is scheduled to report its next earnings results on Tuesday, August 14th.
According to Zacks, analysts expect that Lamar Advertising will report full-year sales of $1.61 billion for the current financial year, with estimates ranging from $1.60 billion to $1.63 billion. For the next financial year, analysts anticipate that the company will post sales of $1.64 billion per share, with estimates ranging from $1.62 billion to $1.67 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.67. Lamar Advertising had a net margin of 18.69% and a return on equity of 27.02%. The company had revenue of $361.03 million during the quarter, compared to the consensus estimate of $360.27 million. During the same period last year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis.
A number of research analysts have recently weighed in on LAMR shares. ValuEngine cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Morgan Stanley raised their price objective on shares of Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. MKM Partners raised their price objective on shares of Lamar Advertising from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, March 8th. BidaskClub cut shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a research note on Friday, March 23rd. Finally, TheStreet cut shares of Lamar Advertising from a “b” rating to a “c+” rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $73.25.
In other Lamar Advertising news, CFO Keith A. Istre sold 41,075 shares of Lamar Advertising stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $66.37, for a total value of $2,726,147.75. Following the completion of the sale, the chief financial officer now directly owns 134,472 shares of the company’s stock, valued at approximately $8,924,906.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.64% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd grew its stake in shares of Lamar Advertising by 566.4% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,606 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 1,365 shares during the period. Advisory Services Network LLC grew its stake in shares of Lamar Advertising by 209.3% during the 4th quarter. Advisory Services Network LLC now owns 2,038 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 1,379 shares during the period. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Lamar Advertising during the 1st quarter valued at $164,000. Quadrature Capital Ltd purchased a new stake in shares of Lamar Advertising during the 1st quarter valued at $203,000. Finally, TradeLink Capital LLC purchased a new stake in shares of Lamar Advertising during the 4th quarter valued at $208,000. 97.01% of the stock is owned by institutional investors.
Shares of Lamar Advertising opened at $68.84 on Tuesday, according to MarketBeat.com. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.59 and a quick ratio of 1.59. Lamar Advertising has a 1-year low of $61.36 and a 1-year high of $79.17. The company has a market cap of $6.73 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 4.33 and a beta of 1.06.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a dividend of $0.91 per share. The ex-dividend date is Thursday, June 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.29%. Lamar Advertising’s dividend payout ratio (DPR) is 72.08%.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq:LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States, Canada and Puerto Rico. Lamar offers advertisers a variety of billboard, interstate logo and transit advertising formats, helping both local businesses and national brands reach broad audiences every day.
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