Lamar Advertising (NASDAQ:LAMR – Get Free Report) posted its earnings results on Friday. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73), Zacks reports. The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 EPS. Lamar Advertising updated its FY 2024 guidance to 4.970-4.990 EPS and its FY24 guidance to $7.85-7.95 EPS.
Lamar Advertising Trading Up 1.1 %
LAMR traded up $1.46 during trading on Monday, reaching $130.04. 673,874 shares of the stock traded hands, compared to its average volume of 405,563. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $13.30 billion, a PE ratio of 26.10 and a beta of 1.52. The stock’s 50-day moving average is $131.75 and its 200 day moving average is $122.96. Lamar Advertising has a 12 month low of $91.20 and a 12 month high of $139.88.
Lamar Advertising Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.31%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is 112.00%.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on Lamar Advertising
About Lamar Advertising
Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.
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