Lamar Advertising (NASDAQ:LAMR) Posts Earnings Results, Misses Expectations By $0.49 EPS

Lamar Advertising (NASDAQ:LAMRGet Free Report) posted its quarterly earnings results on Friday. The real estate investment trust reported $1.46 earnings per share 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 company had revenue of $555.91 million during the quarter, compared to analyst estimates of $549.84 million. During the same quarter 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 %

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

Lamar Advertising Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC grew its position in Lamar Advertising by 2.8% in the 1st quarter. EP Wealth Advisors LLC now owns 4,129 shares of the real estate investment trust’s stock valued at $480,000 after purchasing an additional 112 shares during the period. Continuum Advisory LLC grew its position in Lamar Advertising by 2.5% in the 1st quarter. Continuum Advisory LLC now owns 4,606 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 113 shares during the period. First National Bank of Omaha grew its position in Lamar Advertising by 0.9% in the 2nd quarter. First National Bank of Omaha now owns 15,533 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 140 shares during the period. Snowden Capital Advisors LLC grew its position in Lamar Advertising by 5.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 2,709 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 144 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Lamar Advertising by 5.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,491 shares of the real estate investment trust’s stock worth $406,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 79.80% of the company’s stock.

Analyst Ratings Changes

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

Get Our Latest Stock Analysis on Lamar Advertising

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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