Lamar Advertising (NASDAQ:LAMR – Get Rating) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18, MarketWatch Earnings reports. The business had revenue of $451.40 million during the quarter, compared to analyst estimates of $427.21 million. Lamar Advertising had a net margin of 21.71% and a return on equity of 31.86%. Lamar Advertising’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS. Lamar Advertising updated its FY22 guidance to $4.88-4.96 EPS.
Shares of NASDAQ:LAMR traded down $2.84 on Friday, hitting $104.35. 881,746 shares of the company were exchanged, compared to its average volume of 420,051. The company’s 50 day moving average price is $112.14 and its two-hundred day moving average price is $113.55. Lamar Advertising has a one year low of $97.81 and a one year high of $124.32. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $10.57 billion, a price-to-earnings ratio of 23.99 and a beta of 1.37.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Monday, March 21st were issued a dividend of $1.10 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 18th. This represents a $4.40 annualized dividend and a dividend yield of 4.22%. Lamar Advertising’s payout ratio is presently 101.15%.
A number of research analysts have weighed in on LAMR shares. Wolfe Research started coverage on shares of Lamar Advertising in a research report on Tuesday, March 29th. They set a “market perform” rating and a $131.00 target price for the company. StockNews.com started coverage on shares of Lamar Advertising in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Morgan Stanley cut their target price on shares of Lamar Advertising from $138.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 28th.
Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Lamar Advertising by 0.9% during the 4th quarter. BlackRock Inc. now owns 7,858,477 shares of the real estate investment trust’s stock worth $953,234,000 after purchasing an additional 70,685 shares during the period. Deutsche Bank AG increased its stake in Lamar Advertising by 60.1% in the fourth quarter. Deutsche Bank AG now owns 910,520 shares of the real estate investment trust’s stock valued at $110,447,000 after acquiring an additional 341,942 shares during the period. Goldman Sachs Group Inc. increased its stake in Lamar Advertising by 22.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 634,654 shares of the real estate investment trust’s stock valued at $76,985,000 after acquiring an additional 115,374 shares during the period. Legal & General Group Plc raised its position in Lamar Advertising by 4.8% in the fourth quarter. Legal & General Group Plc now owns 137,585 shares of the real estate investment trust’s stock worth $16,689,000 after purchasing an additional 6,344 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Lamar Advertising by 3.6% during the fourth quarter. Sei Investments Co. now owns 45,736 shares of the real estate investment trust’s stock worth $5,528,000 after purchasing an additional 1,605 shares during the period. Institutional investors own 78.03% of the company’s stock.
Lamar Advertising Company Profile (Get Rating)
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 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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