Wall Street analysts forecast that Lamar Advertising Co (NASDAQ:LAMR) will announce $453.19 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Lamar Advertising’s earnings, with the lowest sales estimate coming in at $452.30 million and the highest estimate coming in at $454.07 million. Lamar Advertising reported sales of $418.50 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.3%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Lamar Advertising will report full-year sales of $1.75 billion for the current financial year. For the next fiscal year, analysts anticipate that the company will post sales of $1.82 billion, with estimates ranging from $1.80 billion to $1.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $1.18 EPS for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.42). Lamar Advertising had a net margin of 21.39% and a return on equity of 32.10%. The company had revenue of $448.74 million for the quarter, compared to analysts’ expectations of $451.85 million. During the same period in the previous year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis.
A number of brokerages recently commented on LAMR. Imperial Capital lowered their price objective on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. They noted that the move was a valuation call. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. Finally, ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $80.75.
A number of hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank bought a new stake in Lamar Advertising in the second quarter worth approximately $900,000. Natixis acquired a new stake in shares of Lamar Advertising in the second quarter worth $225,000. Vestmark Advisory Solutions Inc. lifted its stake in shares of Lamar Advertising by 3.6% in the second quarter. Vestmark Advisory Solutions Inc. now owns 9,013 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 317 shares during the last quarter. Barings LLC acquired a new stake in shares of Lamar Advertising in the second quarter worth $274,000. Finally, Chartwell Investment Partners LLC lifted its stake in shares of Lamar Advertising by 8.7% in the second quarter. Chartwell Investment Partners LLC now owns 124,787 shares of the real estate investment trust’s stock worth $10,071,000 after buying an additional 9,992 shares during the last quarter. 79.90% of the stock is owned by institutional investors.
LAMR traded up $0.36 on Wednesday, reaching $79.15. 67,101 shares of the company traded hands, compared to its average volume of 298,190. The stock’s 50 day moving average price is $77.49 and its 200-day moving average price is $79.53. Lamar Advertising has a 52-week low of $64.51 and a 52-week high of $84.50. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 14.39 and a beta of 0.96. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.50 and a quick ratio of 0.50.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend is Friday, September 13th. Lamar Advertising’s dividend payout ratio is 69.82%.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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