Lamar Advertising Co to Post FY2019 Earnings of $5.62 Per Share, Imperial Capital Forecasts (NASDAQ:LAMR)

Lamar Advertising Co (NASDAQ:LAMR) – Investment analysts at Imperial Capital boosted their FY2019 earnings per share estimates for shares of Lamar Advertising in a note issued to investors on Tuesday, June 4th, according to Zacks Investment Research. Imperial Capital analyst D. Miller now forecasts that the real estate investment trust will earn $5.62 per share for the year, up from their previous forecast of $5.60. Imperial Capital also issued estimates for Lamar Advertising’s Q4 2019 earnings at $1.54 EPS.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.43). Lamar Advertising had a net margin of 20.68% and a return on equity of 30.95%. The company had revenue of $384.50 million for the quarter, compared to analyst estimates of $384.84 million. During the same quarter in the previous year, the firm earned $0.15 EPS. The firm’s revenue was up 6.5% on a year-over-year basis.

Several other research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Lamar Advertising has an average rating of “Hold” and an average price target of $78.50.

LAMR traded up $0.50 during trading on Thursday, hitting $80.71. 648,818 shares of the company’s stock were exchanged, compared to its average volume of 338,686. 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 firm’s 50 day moving average price is $80.77. Lamar Advertising has a fifty-two week low of $64.51 and a fifty-two week high of $84.50. The company has a market cap of $8.02 billion, a PE ratio of 14.67 and a beta of 1.00.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.96 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $3.84 annualized dividend and a dividend yield of 4.76%. Lamar Advertising’s payout ratio is 69.82%.

In related news, Director Thomas V. Reifenheiser sold 4,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total transaction of $324,200.00. Following the completion of the transaction, the director now owns 38,708 shares in the company, valued at $3,137,283.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Keith A. Istre sold 16,294 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $80.28, for a total transaction of $1,308,082.32. Following the transaction, the chief financial officer now owns 118,991 shares of the company’s stock, valued at approximately $9,552,597.48. The disclosure for this sale can be found here. Corporate insiders own 15.19% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Lamar Advertising by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 186,082 shares of the real estate investment trust’s stock valued at $14,476,000 after buying an additional 2,302 shares during the last quarter. Teachers Advisors LLC raised its holdings in Lamar Advertising by 9.4% during the third quarter. Teachers Advisors LLC now owns 130,048 shares of the real estate investment trust’s stock worth $10,118,000 after purchasing an additional 11,202 shares in the last quarter. Vanguard Group Inc raised its holdings in Lamar Advertising by 7.5% during the third quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock worth $965,072,000 after purchasing an additional 867,169 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lamar Advertising by 9.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,789 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 506 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Lamar Advertising by 31.5% during the fourth quarter. Rhumbline Advisers now owns 247,181 shares of the real estate investment trust’s stock worth $17,100,000 after purchasing an additional 59,171 shares in the last quarter. 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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Earnings History and Estimates for Lamar Advertising (NASDAQ:LAMR)

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