Lamar Advertising (LAMR) Releases Quarterly Earnings Results, Misses Estimates By $0.44 EPS

Lamar Advertising (NASDAQ:LAMR) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.44), MarketWatch Earnings reports. Lamar Advertising had a net margin of 18.93% and a return on equity of 27.75%. The company had revenue of $418.50 million for the quarter, compared to analysts’ expectations of $421.29 million. During the same quarter in the prior year, the firm earned $0.98 EPS. Lamar Advertising’s quarterly revenue was up 4.8% compared to the same quarter last year.

NASDAQ:LAMR opened at $74.13 on Friday. Lamar Advertising has a one year low of $61.36 and a one year high of $80.68. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $7.74 billion, a P/E ratio of 14.68 and a beta of 1.13.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Lamar Advertising in the second quarter worth approximately $137,000. Qube Research & Technologies Ltd bought a new position in shares of Lamar Advertising in the second quarter worth approximately $164,000. McKinley Carter Wealth Services Inc. bought a new position in shares of Lamar Advertising in the third quarter worth approximately $200,000. SPC Financial Inc. bought a new position in shares of Lamar Advertising in the third quarter worth approximately $202,000. Finally, Anchor Capital Advisors LLC bought a new position in shares of Lamar Advertising in the second quarter worth approximately $242,000. Hedge funds and other institutional investors own 83.49% of the company’s stock.

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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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Earnings History for Lamar Advertising (NASDAQ:LAMR)

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