Imperial Capital Weighs in on Lamar Advertising Co’s Q2 2019 Earnings (LAMR)

Lamar Advertising Co (NASDAQ:LAMR) – Equities researchers at Imperial Capital raised their Q2 2019 EPS estimates for shares of Lamar Advertising in a note issued to investors on Monday, December 3rd. Imperial Capital analyst D. Miller now forecasts that the real estate investment trust will earn $1.54 per share for the quarter, up from their prior forecast of $1.53. Imperial Capital currently has a “Outperform” rating and a $93.00 target price on the stock. Imperial Capital also issued estimates for Lamar Advertising’s Q3 2019 earnings at $1.51 EPS and FY2019 earnings at $5.50 EPS.

Other analysts have also issued reports about the company. BidaskClub upgraded Lamar Advertising from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 15th. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Citigroup increased their price objective on Lamar Advertising from $68.00 to $69.00 and gave the stock a “sell” rating in a report on Wednesday, August 15th. Zacks Investment Research lowered Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, October 15th. Finally, MKM Partners increased their price objective on Lamar Advertising to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.33.

LAMR opened at $76.03 on Wednesday. The firm has a market capitalization of $7.29 billion, a PE ratio of 15.06 and a beta of 1.11. Lamar Advertising has a 12-month low of $61.36 and a 12-month high of $80.68. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.30.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, November 8th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.44). The business had revenue of $418.50 million during the quarter, compared to analysts’ expectations of $421.29 million. Lamar Advertising had a net margin of 18.57% and a return on equity of 27.51%. Lamar Advertising’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS.

Institutional investors have recently bought and sold shares of the business. Gilman Hill Asset Management LLC increased its position in Lamar Advertising by 3.7% during the third quarter. Gilman Hill Asset Management LLC now owns 68,054 shares of the real estate investment trust’s stock worth $5,295,000 after buying an additional 2,427 shares during the last quarter. Waratah Capital Advisors Ltd. increased its position in Lamar Advertising by 45.1% during the third quarter. Waratah Capital Advisors Ltd. now owns 429,914 shares of the real estate investment trust’s stock worth $33,447,000 after buying an additional 133,621 shares during the last quarter. FMR LLC increased its position in Lamar Advertising by 87.2% during 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 last quarter. Janney Montgomery Scott LLC increased its position in Lamar Advertising by 6.1% during the third quarter. Janney Montgomery Scott LLC now owns 45,571 shares of the real estate investment trust’s stock worth $3,545,000 after buying an additional 2,630 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Lamar Advertising by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 2,303,819 shares of the real estate investment trust’s stock worth $157,374,000 after buying an additional 165,182 shares during the last quarter. 81.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Keith A. Istre sold 20,791 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $76.64, for a total transaction of $1,593,422.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.64% of the stock is currently owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 17th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 4.84%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, December 14th. Lamar Advertising’s dividend payout ratio (DPR) is currently 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.

See Also: Systematic Risk

Earnings History and Estimates for Lamar Advertising (NASDAQ:LAMR)

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