Lamar Advertising (NASDAQ:LAMR) Updates FY22 Earnings Guidance

Lamar Advertising (NASDAQ:LAMRGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.88-4.96 for the period, compared to the consensus earnings per share estimate of $4.66.

Several equities research analysts have commented on the company. Morgan Stanley dropped their price target on Lamar Advertising from $138.00 to $135.00 and set an overweight rating for the company in a research note on Monday, February 28th. Wolfe Research assumed coverage on Lamar Advertising in a research note on Tuesday, March 29th. They issued a market perform rating and a $131.00 target price for the company. Finally, StockNews.com started coverage on Lamar Advertising in a report on Thursday, March 31st. They issued a buy rating for the company.

Shares of NASDAQ LAMR opened at $107.19 on Friday. The company has a market cap of $10.86 billion, a price-to-earnings ratio of 28.06 and a beta of 1.37. Lamar Advertising has a 12-month low of $97.81 and a 12-month high of $124.32. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 2.35. The stock’s 50 day simple moving average is $112.23 and its 200 day simple moving average is $113.64.

Lamar Advertising (NASDAQ:LAMRGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.18. The business had revenue of $451.40 million for the quarter, compared to the consensus estimate of $427.21 million. Lamar Advertising had a return on equity of 31.86% and a net margin of 21.71%. The business’s revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS. As a group, equities analysts forecast that Lamar Advertising will post 6.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Monday, March 21st were given a $1.10 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Friday, March 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 115.18%.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Lamar Advertising by 0.9% in the 4th quarter. BlackRock Inc. now owns 7,858,477 shares of the real estate investment trust’s stock worth $953,234,000 after acquiring an additional 70,685 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Lamar Advertising by 60.1% in the 4th quarter. Deutsche Bank AG now owns 910,520 shares of the real estate investment trust’s stock worth $110,447,000 after acquiring an additional 341,942 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Lamar Advertising by 22.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 634,654 shares of the real estate investment trust’s stock worth $76,985,000 after acquiring an additional 115,374 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Lamar Advertising by 4.8% in the 4th quarter. Legal & General Group Plc now owns 137,585 shares of the real estate investment trust’s stock worth $16,689,000 after acquiring an additional 6,344 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Lamar Advertising by 3.6% in the 4th quarter. Sei Investments Co. now owns 45,736 shares of the real estate investment trust’s stock worth $5,528,000 after acquiring an additional 1,605 shares during the last quarter. 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.

See Also

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.