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

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LAMR shares. StockNews.com raised Lamar Advertising from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Wells Fargo & Company initiated coverage on Lamar Advertising in a research note on Thursday, September 19th. They issued an "equal weight" rating and a $132.00 price objective on the stock. TD Cowen increased their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Citigroup lowered shares of Lamar Advertising from a "buy" rating to a "neutral" rating and set a $122.00 price target on the stock. in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $125.00.

Lamar Advertising Stock Down 4.7 %

LAMR stock traded down $6.41 during midday trading on Friday, hitting $128.58. 1,099,061 shares of the company's stock were exchanged, compared to its average volume of 404,327. The firm has a 50 day moving average price of $131.75 and a 200-day moving average price of $122.84. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 26.08 and a beta of 1.52. Lamar Advertising has a 12-month low of $91.20 and a 12-month high of $139.88. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share 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 firm had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. During the same period in the prior year, the firm earned $1.90 earnings per share. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.36%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising's dividend payout ratio is 113.59%.

Lamar Advertising Company Profile

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.