Lamar Advertising (NASDAQ:LAMR) Issues FY24 Earnings Guidance

Lamar Advertising (NASDAQ:LAMR - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $7.75 to $7.90 for the period, compared to the consensus EPS estimate of $8.09.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LAMR. StockNews.com raised shares of Lamar Advertising from a hold rating to a buy rating in a report on Tuesday, March 5th. Morgan Stanley lifted their price target on Lamar Advertising from $105.00 to $110.00 and gave the stock an equal weight rating in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Lamar Advertising from $92.00 to $109.00 and gave the stock a neutral rating in a report on Monday, February 26th.

Lamar Advertising Trading Up 1.0 %

Lamar Advertising stock traded up $1.18 during mid-day trading on Thursday, hitting $118.68. The company's stock had a trading volume of 1,192,825 shares, compared to its average volume of 416,747. Lamar Advertising has a one year low of $77.21 and a one year high of $121.99. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50 day moving average of $114.89 and a 200-day moving average of $105.48. The stock has a market cap of $12.11 billion, a PE ratio of 24.47 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.49). Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The business had revenue of $555.91 million during the quarter, compared to analysts' expectations of $549.84 million. During the same quarter last year, the business posted $1.91 earnings per share. On average, research analysts anticipate that Lamar Advertising will post 7.54 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.30 per share. This is a boost from Lamar Advertising's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising's dividend payout ratio (DPR) is currently 107.22%.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $1,189,700. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.98% of the stock is owned by company insiders.

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.