Wall Street analysts expect Lamar Advertising Co (NASDAQ:LAMR) to post sales of $385.95 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Lamar Advertising’s earnings, with the highest sales estimate coming in at $389.20 million and the lowest estimate coming in at $382.69 million. Lamar Advertising posted sales of $361.03 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The company is scheduled to announce its next earnings report on Wednesday, May 1st.
According to Zacks, analysts expect that Lamar Advertising will report full-year sales of $1.72 billion for the current financial year, with estimates ranging from $1.69 billion to $1.74 billion. For the next financial year, analysts anticipate that the company will report sales of $1.77 billion, with estimates ranging from $1.73 billion to $1.79 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.38). The firm had revenue of $427.90 million for the quarter, compared to the consensus estimate of $426.29 million. Lamar Advertising had a return on equity of 28.12% and a net margin of 18.76%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS.
LAMR has been the topic of a number of recent analyst reports. BidaskClub cut Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. MKM Partners raised their price target on Lamar Advertising to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. Imperial Capital restated an “outperform” rating and issued a $88.00 price target (down previously from $94.00) on shares of Lamar Advertising in a research report on Wednesday, January 23rd. Wolfe Research initiated coverage on Lamar Advertising in a research report on Friday, December 7th. They issued an “underperform” rating on the stock. Finally, ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $78.50.
Shares of NASDAQ LAMR traded down $0.25 during mid-day trading on Wednesday, reaching $77.87. The company had a trading volume of 288,226 shares, compared to its average volume of 387,590. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.80 and a current ratio of 0.80. Lamar Advertising has a one year low of $61.36 and a one year high of $80.68. The stock has a market capitalization of $7.75 billion, a P/E ratio of 14.16 and a beta of 1.00.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.96 dividend. The ex-dividend date is Thursday, March 14th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.93%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.92. Lamar Advertising’s dividend payout ratio (DPR) is presently 69.82%.
In related news, CFO Keith A. Istre sold 22,263 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $76.84, for a total value of $1,710,688.92. Following the transaction, the chief financial officer now owns 135,185 shares in the company, valued at $10,387,615.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean E. Reilly sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $78.64, for a total value of $3,932,000.00. The disclosure for this sale can be found here. Insiders sold 179,869 shares of company stock worth $14,202,746 in the last 90 days. 15.64% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in LAMR. Oregon Public Employees Retirement Fund boosted its stake in Lamar Advertising by 6,818.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 2,264,394 shares in the last quarter. Vanguard Group Inc boosted its stake in Lamar Advertising by 7.5% in the third quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock valued at $965,072,000 after buying an additional 867,169 shares in the last quarter. Norges Bank acquired a new stake in Lamar Advertising in the fourth quarter valued at about $45,636,000. Rothschild & Co. Asset Management US Inc. acquired a new stake in Lamar Advertising in the fourth quarter valued at about $20,855,000. Finally, Millennium Management LLC boosted its stake in Lamar Advertising by 183.4% in the fourth quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock valued at $25,244,000 after buying an additional 236,151 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 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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