Lamar Advertising Co(NASDAQ:LAMR) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $386.717M. Analysts estimated a revenue of $388.440M. The revenues were -0.44% below the estimates. Earnings per share were $0.81. The reported EPS was below estimates by -2.41%. Analysts had estimated an EPS of $0.83.
In a different note, On Jan 17, 2017, Goldman Sachs said it Upgrades its rating on Lamar Advertising Co. The shares have been rated ‘Buy’ by the firm.
Lamar Advertising Co (LAMR) shares turned negative on Wednesdays trading session with the shares closing down -2.1 points or -2.66% at a volume of 13,74,031. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $78.35. The peak price level was also seen at $78.35 while the days lowest was $75.23. Finally the shares closed at $76.95. The 52-week high of the shares is $79.09 while the 52-week low is $52.51. According to the latest information available, the market cap of the company is $7,489 M.
Several Insider Transactions has been reported to the SEC. On Nov 16, 2016, Keith A Istre (Chief Financial Officer) sold 25,000 shares at $61.03 per share price.Also, On Jun 20, 2016, Stephen P Mumblow (director) sold 10,000 shares at $63.50 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.