Zacks: Analysts Anticipate Lamar Advertising Co (LAMR) Will Post Quarterly Sales of $421.41 Million

Analysts expect Lamar Advertising Co (NASDAQ:LAMR) to report $421.41 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Lamar Advertising’s earnings, with the highest sales estimate coming in at $422.11 million and the lowest estimate coming in at $420.70 million. Lamar Advertising reported sales of $399.35 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The business is expected to announce its next quarterly earnings results on Monday, November 5th.

According to Zacks, analysts expect that Lamar Advertising will report full year sales of $1.61 billion for the current year, with estimates ranging from $1.60 billion to $1.62 billion. For the next financial year, analysts expect that the business will report sales of $1.65 billion, with estimates ranging from $1.64 billion to $1.65 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Lamar Advertising.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.06. The company had revenue of $419.80 million for the quarter, compared to analysts’ expectations of $416.75 million. Lamar Advertising had a net margin of 18.93% and a return on equity of 27.75%. Lamar Advertising’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS.

A number of equities analysts recently issued reports on the stock. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. BidaskClub cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Zacks Investment Research upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Monday, June 18th. Imperial Capital assumed coverage on shares of Lamar Advertising in a research note on Thursday, September 13th. They issued an “outperform” rating and a $93.00 price target on the stock. Finally, TheStreet upgraded shares of Lamar Advertising from a “c+” rating to a “b-” rating in a research note on Wednesday, June 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Lamar Advertising currently has a consensus rating of “Hold” and an average price target of $77.33.

Lamar Advertising stock traded up $0.38 during mid-day trading on Thursday, reaching $77.09. The stock had a trading volume of 733,200 shares, compared to its average volume of 534,580. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 15.26 and a beta of 1.14. Lamar Advertising has a one year low of $61.36 and a one year high of $79.40. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.48 and a quick ratio of 1.48.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 4.72%. The ex-dividend date is Thursday, September 13th. Lamar Advertising’s dividend payout ratio is currently 72.08%.

A number of institutional investors and hedge funds have recently bought and sold shares of LAMR. Point72 Asia Hong Kong Ltd lifted its stake in Lamar Advertising by 566.4% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,606 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 1,365 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Lamar Advertising during the 2nd quarter valued at about $137,000. McKinley Carter Wealth Services Inc. bought a new position in Lamar Advertising during the 1st quarter valued at about $164,000. Qube Research & Technologies Ltd bought a new position in Lamar Advertising during the 2nd quarter valued at about $164,000. Finally, Quadrature Capital Ltd bought a new position in Lamar Advertising during the 1st quarter valued at about $203,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 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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