Lamar Advertising (NASDAQ:LAMR) Issues FY 2024 Earnings Guidance

Lamar Advertising (NASDAQ:LAMR) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 4.970-4.990 for the period, compared to the consensus EPS estimate of 5.050. The company issued revenue guidance of -. Lamar Advertising also updated its FY24 guidance to $7.85-7.95 EPS.

Lamar Advertising Stock Down 4.7 %

Shares of 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 current ratio of 0.41 and a quick ratio of 0.41. The stock’s 50-day moving average is $131.75 and its 200 day moving average is $122.90. The company has a market cap of $13.15 billion, a PE ratio of 26.08 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same period last year, the firm posted $1.90 earnings per share. Lamar Advertising’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The business 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. This is an increase 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%. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 113.59%.

Analyst Upgrades and Downgrades

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

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.