Equities research analysts expect that Lamar Advertising Co (NASDAQ:LAMR) will report $1.66 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Lamar Advertising’s earnings. Lamar Advertising reported earnings of $1.52 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The firm is expected to announce its next earnings report on Wednesday, August 14th.
On average, analysts expect that Lamar Advertising will report full year earnings of $5.83 per share for the current fiscal year. For the next year, analysts anticipate that the firm will post earnings of $6.33 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.43). The business had revenue of $384.50 million during the quarter, compared to analysts’ expectations of $384.84 million. Lamar Advertising had a net margin of 20.68% and a return on equity of 30.95%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS.
In related news, CFO Keith A. Istre sold 16,294 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $80.28, for a total value of $1,308,082.32. Following the sale, the chief financial officer now directly owns 118,991 shares in the company, valued at approximately $9,552,597.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas V. Reifenheiser sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total value of $324,200.00. Following the completion of the sale, the director now owns 38,708 shares in the company, valued at $3,137,283.40. The disclosure for this sale can be found here. 15.19% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its position in Lamar Advertising by 183.4% in the 4th quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock valued at $25,244,000 after acquiring an additional 236,151 shares during the period. Stevens Capital Management LP increased its position in Lamar Advertising by 50.5% in the 1st quarter. Stevens Capital Management LP now owns 41,325 shares of the real estate investment trust’s stock valued at $3,275,000 after acquiring an additional 13,859 shares during the period. California State Teachers Retirement System increased its position in Lamar Advertising by 3.3% in the 4th quarter. California State Teachers Retirement System now owns 133,253 shares of the real estate investment trust’s stock valued at $9,218,000 after acquiring an additional 4,290 shares during the period. Rhumbline Advisers increased its position in Lamar Advertising by 0.6% in the 1st quarter. Rhumbline Advisers now owns 248,585 shares of the real estate investment trust’s stock valued at $19,703,000 after acquiring an additional 1,404 shares during the period. Finally, Texas Permanent School Fund increased its position in Lamar Advertising by 3.9% in the 1st quarter. Texas Permanent School Fund now owns 57,824 shares of the real estate investment trust’s stock valued at $4,583,000 after acquiring an additional 2,145 shares during the period. Hedge funds and other institutional investors own 81.02% of the company’s stock.
Shares of Lamar Advertising stock opened at $80.34 on Monday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market cap of $7.98 billion, a PE ratio of 14.50 and a beta of 1.00. Lamar Advertising has a twelve month low of $64.51 and a twelve month high of $83.51.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend is Thursday, June 13th. Lamar Advertising’s payout ratio is 69.82%.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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