Equities research analysts predict that Lamar Advertising Co (NASDAQ:LAMR) will post $453.37 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Lamar Advertising’s earnings, with estimates ranging from $452.10 million to $454.64 million. Lamar Advertising reported sales of $419.80 million during the same quarter last year, which indicates a positive year over year growth rate of 8%. The company is expected to announce its next earnings report before the market opens on Wednesday, August 7th.
According to Zacks, analysts expect that Lamar Advertising will report full year sales of $1.75 billion for the current year. For the next fiscal year, analysts forecast that the firm will report sales of $1.82 billion, with estimates ranging from $1.80 billion to $1.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Lamar Advertising.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.43). The business had revenue of $384.50 million for the quarter, compared to the consensus estimate of $384.84 million. Lamar Advertising had a net margin of 20.68% and a return on equity of 30.95%. Lamar Advertising’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS.
NASDAQ:LAMR traded up $0.28 during trading hours on Friday, hitting $80.97. 256,426 shares of the company’s stock traded hands, compared to its average volume of 327,344. The company has a fifty day moving average of $80.77. Lamar Advertising has a 52 week low of $64.51 and a 52 week high of $84.50. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.48. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 14.72 and a beta of 0.96.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $3.84 dividend on an annualized basis and a yield of 4.74%. Lamar Advertising’s payout ratio is 69.82%.
In other news, CFO Keith A. Istre sold 16,294 shares of Lamar Advertising stock in a transaction dated 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 transaction, the chief financial officer now owns 118,991 shares in the company, valued at $9,552,597.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas V. Reifenheiser sold 4,000 shares of Lamar Advertising stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $81.05, for a total value of $324,200.00. Following the completion of the transaction, the director now owns 38,708 shares in the company, valued at approximately $3,137,283.40. The disclosure for this sale can be found here. Company insiders own 15.19% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 6 Meridian boosted its position in Lamar Advertising by 2.0% during the 2nd quarter. 6 Meridian now owns 6,540 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 131 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Lamar Advertising by 18.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 33,620 shares of the real estate investment trust’s stock valued at $2,713,000 after acquiring an additional 5,315 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in Lamar Advertising by 13.7% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 5,524 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 666 shares in the last quarter. First National Bank of Omaha boosted its position in Lamar Advertising by 8.8% during the 2nd quarter. First National Bank of Omaha now owns 4,812 shares of the real estate investment trust’s stock valued at $388,000 after acquiring an additional 390 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in Lamar Advertising by 72.5% during the 2nd quarter. WINTON GROUP Ltd now owns 8,296 shares of the real estate investment trust’s stock valued at $670,000 after acquiring an additional 3,486 shares in the last quarter. Hedge funds and other institutional investors own 81.01% of the company’s stock.
Lamar Advertising Company Profile
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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