Lamar Advertising Co (NASDAQ:LAMR) Expected to Post Earnings of $1.66 Per Share

Brokerages expect that Lamar Advertising Co (NASDAQ:LAMR) will post earnings per share of $1.66 for the current quarter, according to Zacks. Two analysts have made estimates for Lamar Advertising’s earnings. Lamar Advertising posted earnings of $1.52 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 9.2%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, August 7th.

On average, analysts expect that Lamar Advertising will report full year earnings of $5.83 per share for the current year. For the next fiscal year, analysts expect that the company will post earnings of $6.33 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Lamar Advertising.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates 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%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS.

A number of research firms have recently commented on LAMR. ValuEngine cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, BidaskClub raised Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $78.50.

Shares of LAMR traded down $0.50 during mid-day trading on Friday, reaching $79.31. 3,042 shares of the company’s stock traded hands, compared to its average volume of 236,376. The stock has a market capitalization of $8.09 billion, a PE ratio of 14.40 and a beta of 0.96. The firm’s 50-day moving average is $80.98. Lamar Advertising has a 12 month low of $64.51 and a 12 month high of $84.50. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.52 and a current ratio of 0.52.

In related news, Director Thomas V. Reifenheiser sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.05, for a total value of $324,200.00. Following the transaction, the director now owns 38,708 shares of the company’s stock, valued at $3,137,283.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Keith A. Istre sold 16,294 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 118,991 shares in the company, valued at approximately $9,552,597.48. The disclosure for this sale can be found here. 15.19% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Lamar Advertising by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,256,045 shares of the real estate investment trust’s stock valued at $86,894,000 after acquiring an additional 104,898 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Lamar Advertising by 6.5% during the 1st quarter. OppenheimerFunds Inc. now owns 1,076,280 shares of the real estate investment trust’s stock valued at $85,306,000 after acquiring an additional 65,992 shares in the last quarter. Geode Capital Management LLC boosted its position in Lamar Advertising by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 925,468 shares of the real estate investment trust’s stock valued at $64,023,000 after acquiring an additional 69,692 shares in the last quarter. Norges Bank bought a new stake in Lamar Advertising during the 4th quarter valued at $45,636,000. Finally, Bank of America Corp DE boosted its position in Lamar Advertising by 15.4% during the 4th quarter. Bank of America Corp DE now owns 651,834 shares of the real estate investment trust’s stock valued at $45,095,000 after acquiring an additional 86,999 shares in the last quarter. 81.08% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Lamar Advertising (NASDAQ:LAMR)

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