Brokerages Expect Lamar Advertising Co (LAMR) Will Post Earnings of $1.47 Per Share

Wall Street brokerages expect that Lamar Advertising Co (NASDAQ:LAMR) will report earnings per share (EPS) of $1.47 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Lamar Advertising’s earnings. Lamar Advertising reported earnings per share of $1.40 during the same quarter last year, which suggests a positive year over year growth rate of 5%. The business is expected to issue its next earnings report before the market opens on Thursday, November 8th.

On average, analysts expect that Lamar Advertising will report full-year earnings of $5.38 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $5.81 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Lamar Advertising.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Lamar Advertising had a return on equity of 27.75% and a net margin of 18.93%. The company had revenue of $419.80 million during the quarter, compared to analyst estimates of $416.75 million. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis.

Several research firms have recently issued reports on LAMR. MKM Partners raised their price objective on Lamar Advertising to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Imperial Capital began coverage on Lamar Advertising in a research note on Thursday, September 13th. They issued an “outperform” rating and a $93.00 price objective for the company. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Citigroup raised their price objective on Lamar Advertising from $68.00 to $69.00 and gave the company a “sell” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Lamar Advertising presently has an average rating of “Hold” and a consensus target price of $77.33.

Several large investors have recently bought and sold shares of the company. Toronto Dominion Bank raised its holdings in shares of Lamar Advertising by 658.8% in the second quarter. Toronto Dominion Bank now owns 15,175 shares of the real estate investment trust’s stock worth $1,037,000 after buying an additional 13,175 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Lamar Advertising in the second quarter worth approximately $366,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Lamar Advertising by 11.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 442,736 shares of the real estate investment trust’s stock worth $30,244,000 after buying an additional 45,636 shares during the period. FMR LLC raised its holdings in shares of Lamar Advertising by 87.2% in the second quarter. FMR LLC now owns 588,216 shares of the real estate investment trust’s stock worth $40,181,000 after buying an additional 274,070 shares during the period. Finally, BTIM Corp. raised its holdings in shares of Lamar Advertising by 5.6% in the second quarter. BTIM Corp. now owns 155,221 shares of the real estate investment trust’s stock worth $10,603,000 after buying an additional 8,177 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

NASDAQ:LAMR opened at $76.02 on Friday. The company has a market capitalization of $7.69 billion, a PE ratio of 15.05 and a beta of 1.10. Lamar Advertising has a 1 year low of $61.36 and a 1 year high of $79.40. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.48 and a quick ratio of 1.48.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, September 13th. Lamar Advertising’s payout ratio is 72.08%.

Lamar Advertising Company Profile

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.

Featured Story: Why is the ex-dividend date different from the record date?

Get a free copy of the Zacks research report on Lamar Advertising (LAMR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply