Lamar Advertising (NASDAQ:LAMR) Issues Quarterly Earnings Results, Misses Estimates By $0.49 EPS

Lamar Advertising (NASDAQ:LAMRGet Free Report) announced its quarterly earnings data on Friday. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49), MarketWatch Earnings reports. Lamar Advertising had a net margin of 19.75% and a return on equity of 35.03%. The business had revenue of $555.91 million during the quarter, compared to the consensus estimate of $549.84 million. During the same period in the previous year, the business posted $1.91 earnings per share. Lamar Advertising updated its FY 2024 guidance to 5.020-5.070 EPS and its FY24 guidance to $7.67-7.82 EPS.

Lamar Advertising Trading Down 2.4 %

Shares of NASDAQ LAMR traded down $2.75 during midday trading on Friday, reaching $110.08. 963,929 shares of the stock were exchanged, compared to its average volume of 362,809. The business has a 50-day simple moving average of $105.98 and a two-hundred day simple moving average of $95.63. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 27.25 and a beta of 1.50. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $117.62. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.55 and a quick ratio of 0.55.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.72%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Thursday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is currently 123.76%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday.

Check Out Our Latest Research Report on LAMR

Institutional Investors Weigh In On Lamar Advertising

A number of hedge funds and other institutional investors have recently made changes to their positions in LAMR. Harbour Investments Inc. raised its holdings in shares of Lamar Advertising by 79.5% during the fourth quarter. Harbour Investments Inc. now owns 429 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 190 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Lamar Advertising during the second quarter worth $90,000. Belpointe Asset Management LLC raised its holdings in shares of Lamar Advertising by 23.6% during the first quarter. Belpointe Asset Management LLC now owns 915 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 175 shares during the period. Advisory Services Network LLC raised its holdings in shares of Lamar Advertising by 39.1% during the first quarter. Advisory Services Network LLC now owns 936 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 263 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Lamar Advertising during the third quarter worth $103,000. 79.80% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Company Profile

(Get Free Report)

Lamar Advertising Company operates as an outdoor advertising company in North America. It operates approximately 363,000 displays across the United States and Canada. It offers advertisers a range of billboard, interstate logo, transit, and airport advertising formats helping local businesses and national brands.

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Earnings History for Lamar Advertising (NASDAQ:LAMR)

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