$453.19 Million in Sales Expected for Lamar Advertising Co (NASDAQ:LAMR) This Quarter

Analysts forecast that Lamar Advertising Co (NASDAQ:LAMR) will post sales of $453.19 million for the current quarter, Zacks reports. Two analysts have provided estimates for Lamar Advertising’s earnings, with the lowest sales estimate coming in at $452.30 million and the highest estimate coming in at $454.07 million. Lamar Advertising reported sales of $418.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The company is expected to issue its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Lamar Advertising will report full-year sales of $1.75 billion for the current year. For the next fiscal year, analysts forecast that the business will post sales of $1.81 billion, with estimates ranging from $1.80 billion to $1.84 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Lamar Advertising.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.42). The company had revenue of $448.74 million for the quarter, compared to analyst estimates of $451.85 million. Lamar Advertising had a net margin of 21.39% and a return on equity of 32.10%. Lamar Advertising’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS.

LAMR has been the topic of a number of analyst reports. BidaskClub cut Lamar Advertising from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $81.25.

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in shares of Lamar Advertising by 169.5% during the first quarter. Parallel Advisors LLC now owns 318 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. First Interstate Bank acquired a new stake in shares of Lamar Advertising during the second quarter worth $27,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Lamar Advertising during the second quarter worth $32,000. Penserra Capital Management LLC acquired a new stake in shares of Lamar Advertising during the first quarter worth $39,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Lamar Advertising during the first quarter worth $40,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

NASDAQ:LAMR traded down $1.69 during trading hours on Tuesday, reaching $74.56. 337,669 shares of the company traded hands, compared to its average volume of 385,958. The firm’s 50-day moving average is $79.25 and its 200-day moving average is $79.54. The stock has a market cap of $7.65 billion, a P/E ratio of 13.56 and a beta of 0.95. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.50 and a quick ratio of 0.50. Lamar Advertising has a 1-year low of $64.51 and a 1-year high of $84.50.

About Lamar Advertising

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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