Brokerages Anticipate Lamar Advertising Company (LAMR) Will Announce Earnings of $1.36 Per Share
Wall Street analysts forecast that Lamar Advertising Company (NASDAQ:LAMR) will announce earnings of $1.36 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Lamar Advertising’s earnings. Lamar Advertising reported earnings of $0.87 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 56.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Lamar Advertising will report full year earnings of $4.96 per share for the current year. For the next financial year, analysts expect that the business will post earnings of $5.11 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.37). Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The company had revenue of $397.10 million during the quarter, compared to the consensus estimate of $399.09 million. During the same period in the prior year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year.
Several analysts have recently commented on LAMR shares. Citigroup Inc. restated a “neutral” rating and issued a $66.00 target price (down previously from $69.00) on shares of Lamar Advertising in a research note on Friday, August 11th. BidaskClub downgraded shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. MKM Partners dropped their target price on shares of Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. Finally, Wells Fargo & Company downgraded shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Lamar Advertising currently has a consensus rating of “Hold” and an average price target of $73.40.
Shares of Lamar Advertising (LAMR) opened at 63.77 on Friday. The stock has a 50 day moving average price of $66.12 and a 200-day moving average price of $71.17. The company has a market capitalization of $6.25 billion, a PE ratio of 20.92 and a beta of 1.11. Lamar Advertising has a 12 month low of $58.68 and a 12 month high of $79.09.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.83 dividend. The ex-dividend date is Thursday, September 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.21%. Lamar Advertising’s dividend payout ratio (DPR) is presently 109.21%.
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A number of hedge funds have recently added to or reduced their stakes in LAMR. Janus Henderson Group PLC bought a new stake in Lamar Advertising during the second quarter valued at $598,020,000. BlackRock Inc. boosted its holdings in shares of Lamar Advertising by 16,176.3% during the first quarter. BlackRock Inc. now owns 7,078,578 shares of the real estate investment trust’s stock valued at $529,055,000 after acquiring an additional 7,035,088 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Lamar Advertising by 40,414.9% during the first quarter. Victory Capital Management Inc. now owns 1,326,053 shares of the real estate investment trust’s stock valued at $99,109,000 after acquiring an additional 1,322,780 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Lamar Advertising during the second quarter valued at $33,402,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Lamar Advertising by 251.7% during the second quarter. Renaissance Technologies LLC now owns 391,800 shares of the real estate investment trust’s stock valued at $28,825,000 after acquiring an additional 280,388 shares during the period. Hedge funds and other institutional investors own 85.09% of the company’s stock.
Lamar Advertising Company Profile
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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