Lamar Advertising (NASDAQ:LAMR) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

LAMR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price objective for the company. TD Cowen lifted their target price 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. Finally, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $125.00.

Lamar Advertising Trading Down 4.7 %

NASDAQ:LAMR opened at $128.58 on Friday. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a fifty day moving average price of $131.75 and a two-hundred day moving average price of $122.90. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 26.08 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced 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). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. During the same quarter in the prior year, the business earned $1.90 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.36%. This is an increase 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 (DPR) is presently 113.59%.

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.