Lamar Advertising Co (LAMR) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.83. The company posted revenue of $387.50 million in the period, compared to analysts expectations of $384.07 million. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.
Many Wall Street Analysts have commented on Lamar Advertising Co. Gabelli & Co Downgraded Lamar Advertising Co on Jul 22, 2016 to ” Hold”, Price Target of the shares are set at $64.
Lamar Advertising Co opened for trading at $65.46 and hit $66.15 on the upside on Monday, eventually ending the session at $66.04, with a gain of 0.73% or 0.48 points. The heightened volatility saw the trading volume jump to 6,00,235 shares. Company has a market cap of $6,409 M.
In a different news, on Jun 20, 2016, Stephen P Mumblow (director) sold 10,000 shares at $63.50 per share price. According to the SEC, on May 10, 2016, Keith A Istre (Chief Financial Officer) sold 8,918 shares at $63.47 per share price. On Jan 22, 2016, Wendell Reilly (director) sold 18,075 shares at $60.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards buses shelters benches and logo plates. It operates three types of outdoor advertising displays: billboards logo signs and transit advertising displays. As of December 31 2012 the Company owned and operated over 144000 billboard advertising displays in 44 states Canada and Puerto Rico over 115000 logo advertising displays in 22 states and the province of Ontario Canada and operated over 34000 transit advertising displays in 15 states Canada and Puerto Rico. In August 2014 the Company acquired the assets of Marco Outdoor Advertising Inc.