A hurdle rate is the minimum acceptable return on new capital expenditures. It is the excess cashflow (EBITDA) on a new out of home capital project divided by the incremental cost of the out of home capital project. Two-thirds of Billboard Insider’s readers have a hurdle rate for new out […]
BSquare Bulletin and Inside Indiana Business report that the Bloomington planning commission has shelved for the time being a proposal to amortize billboards in Bloomington. The decision to postpone a decision was due to concern over the financial cost of having to pay just compensation. Lamar’s attorney presented a Briefing […]
Clear Channel Stock increased 14% during the third quarter of 2023 versus a 1.5% decline for the S&P 500. An investor group which includes Artie Moreno, SunChase (e.g William Pope) and Verde (think Ernie Garcia) bought more shares of Clear Channel Outdoor during the quarter. At 9/28/23 their investment […]
Baton Rouge, LA – September 5, 2023 – Lamar Advertising, one of the largest outdoor advertising companies in the world, today announced that the company’s digital airport advertising inventory is now available to be purchased programmatically on Vistar Media. Brands and agencies can now extend the impact of campaigns […]
Yesterday Lamar advertising declared a $1.25 quarterly dividend on Class A and B common shares. This equates to a return of 5.46% per annum return on Lamar’s stock price of $91.58. Outfront declared a $0.30 quarterly dividend which equates to a 10.1% return on stock on a stock price of […]
Billboard Insider readers are an efficient bunch to judge from our poll on out of home EBIDTA cashflow margins. Yesterday we asked readers what their company cashflow margin was. Most of our readers work at companies with a cashflow margin (EBITDA/Revenues) in excess of 40%. Billboard Insider suspects this is […]
The best way to measure your out of home company’s efficiency is by its cash flow margin (e.g. EBIDTA/Revenues). EBIDTA is earnings before interest, depreciation, income taxes and amortization. It represents what you’ve generated in cash from operations before you pay the bank or shareholders. You add back non-cash charges […]
Here’s a listing of the members of the non-executive Board of Directors for OUTFRONT, Clear Channel and Lamar. Five observations: In a pattern which mimics exec pay, OUTFRONT pays board members more than Lamar. Can someone explain why? One could make the case that Lamar board members deserve the […]
Here’s Billboard Insider’s list of who makes what at the public out of home companies. We computed the list based on total compensation in each company’s 2022 14A proxy statement. Three observations: Everyone except Reilly and Wells is down All the execs except Sean Reilly and Scott Wells had pay […]
Seeking Alpha has published a report by Brad Thomas titled Who’s Betting on Billboards. Thomas is a good analyst but he gets this wrong. “…because billboard REITS are essentially in the advertising business, there are erratic capexp requirements” Out of capital spending is not erratic. It is predictable and can […]
