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

Lamar Advertising (NASDAQ:LAMR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.970-4.990 for the period, compared to the consensus earnings per share 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 Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target for the company. JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, TD Cowen increased their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $125.00.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $128.58 on Friday. The stock has a fifty day moving average price of $131.75 and a 200 day moving average price of $122.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market cap of $13.15 billion, a PE ratio of 26.08 and a beta of 1.52. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.90 EPS. Sell-side analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid 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 (DPR) is 113.59%.

About Lamar Advertising

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.