Lamar Advertising (NASDAQ:LAMR) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.44), MarketWatch Earnings reports. The company had revenue of $418.50 million during the quarter, compared to analysts’ expectations of $421.29 million. Lamar Advertising had a return on equity of 27.75% and a net margin of 18.93%. Lamar Advertising’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share.
Shares of Lamar Advertising stock opened at $76.13 on Friday. Lamar Advertising has a 12-month low of $61.36 and a 12-month high of $80.68. The stock has a market capitalization of $7.95 billion, a PE ratio of 15.08 and a beta of 1.13. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.37.
Institutional investors have recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Lamar Advertising in the second quarter worth about $137,000. Qube Research & Technologies Ltd bought a new position in shares of Lamar Advertising in the second quarter worth approximately $164,000. McKinley Carter Wealth Services Inc. bought a new position in shares of Lamar Advertising in the third quarter worth approximately $200,000. SPC Financial Inc. bought a new position in shares of Lamar Advertising in the third quarter worth approximately $202,000. Finally, Anchor Capital Advisors LLC bought a new position in shares of Lamar Advertising in the second quarter worth approximately $242,000. 83.49% of the stock is currently owned by hedge funds and other 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 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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