Lamar Advertising Company (NASDAQ:LAMR) Releases Earnings Results, Misses Expectations By $0.37 EPS
Lamar Advertising Company (NASDAQ:LAMR) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.37, MarketWatch Earnings reports. The firm had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $399.09 million. Lamar Advertising had a return on equity of 27.42% and a net margin of 19.18%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. Lamar Advertising updated its FY17 guidance to $3.09-3.19 EPS.
Shares of Lamar Advertising (LAMR) opened at 68.53 on Tuesday. Lamar Advertising has a 12-month low of $58.68 and a 12-month high of $79.09. The stock has a market cap of $6.71 billion, a P/E ratio of 23.33 and a beta of 1.12.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total transaction of $1,412,200.00. Following the completion of the sale, the director now directly owns 5,970 shares of the company’s stock, valued at $421,541.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.66% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC bought a new stake in Lamar Advertising during the first quarter worth about $169,000. Creative Planning raised its stake in Lamar Advertising by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 290 shares during the period. HL Financial Services LLC bought a new stake in Lamar Advertising during the first quarter worth about $217,000. Two Sigma Securities LLC bought a new stake in Lamar Advertising during the first quarter worth about $220,000. Finally, SPC Financial Inc. bought a new stake in Lamar Advertising during the second quarter worth about $221,000. 85.94% of the stock is owned by institutional investors.
A number of brokerages have recently commented on LAMR. Wells Fargo & Company downgraded shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Zacks Investment Research upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, Loop Capital reiterated a “buy” rating and set a $87.00 price target on shares of Lamar Advertising in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Lamar Advertising presently has an average rating of “Hold” and a consensus price target of $77.25.
About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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