Lamar announced its December 2020 dividend at $0.50 per share. This equates to a dividend yield of 2.5% on Lamar’s current share price of $80. Lamar paid a $1 per share dividend prior to covid which equated to a 4-5% yield. The company cut the dividend from $1.00 prior to […]
A reader asks Billboard Insider what Days Sales Outstanding should be at an Out of Home advertising company. Days sales outstanding tells you how long it takes you to convert your receivables to cash. The formula is: Days Sales Outstanding = (accounts receivable/last 365 days sales) x 365 What should […]
Here’s a chart showing of the change in revenues at the public out of home companies compared to each company’s reliance on roadside billboards. There’s a correlation between how reliant a company is on billboard/poster revenues and how fast it is recovering from covid. Small wonder that Clear Channel Outdoor, […]
Last week Billboard Insider quoted PJ Solomon investment banker Mark Boidman suggesting the bid ask spread has widened on out of home transactions. Yesterday Billboard Insider ran comments by some out of home investment bankers suggesting that the bid ask spread hadn’t widened especially for smaller transactions. Mark Boidman tells […]
I would expect most all of us saw the encouraging news Monday morning indicating that Pfizer’s Covid -19 vaccine is 90% effective, based on preliminary trial data. Once the news was released, the stock market moved quickly. Most stocks moving upwards, unless you were NETFLIX, a gaming company or any […]
Last week PJ Solomon investment banker Mark Boidman suggested that bid ask spreads are widening in the out of home market. Insider asked some out of home investment bankers to comment and they suggested that while some buyers are discounting bids for covid, other buyers aren’t. Max Drachman says there’s […]
Clear Channel Outdoor announced better than expected third quarter 2020 results due to a rebound in Europe. Here are the results of the earnings release, earnings presentation and conference call. Revenue declined 32% to $448 million in the third quarter of 2020 versus a decline of 55% during the second […]
Insider has two thoughts about last Friday’s JCDecaux third quarter earnings announcement. Billboards and street furniture are rebounding from covid the fastest. JCDecaux revenue was down 41% in the 3rd quarter of 2020. The worst impact of covid was on the company’s transit business which is down 52%. Covid needs to […]
Lamar is recovering from covid faster than OUTFRONT, Clear Channel Outdoor or JCDecaux and will aggressively deploy digital billboards in 2021. Here are the results of the Lamar 3rd quarter earnings release and conference call. Revenues declined 15% to $386 million during the third quarter of 2020. This was an […]
Insider was asked by an investment banker earlier this week why he hasn’t listed his out of home company for sale. Insider told the banker now is a bad time to sell because the uncertainty caused by covid. There seems to be a widening bid-ask on transactions. Lamar CEO Sean […]
