Shares of Lamar Advertising Co (NASDAQ:LAMR) traded down 7.9% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $72.30 and last traded at $74.13. 1,814,953 shares traded hands during mid-day trading, an increase of 241% from the average session volume of 532,237 shares. The stock had previously closed at $80.47.
The real estate investment trust reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.44). Lamar Advertising had a return on equity of 27.75% and a net margin of 18.93%. The business had revenue of $418.50 million during the quarter, compared to analysts’ expectations of $421.29 million. During the same period in the previous year, the company posted $0.98 EPS. Lamar Advertising’s revenue for the quarter was up 4.8% on a year-over-year basis.
Several equities research analysts have recently weighed in on the stock. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. BidaskClub raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Imperial Capital assumed coverage on shares of Lamar Advertising in a research report on Thursday, September 13th. They issued an “outperform” rating and a $93.00 price target for the company. Finally, Citigroup upped their price target on shares of Lamar Advertising from $68.00 to $69.00 and gave the stock a “sell” rating in a research report on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $77.33.
The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.37. The company has a market capitalization of $7.74 billion, a P/E ratio of 15.08 and a beta of 1.13.
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Lamar Advertising Company Profile (NASDAQ:LAMR)
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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