OUTFRONT Media Inc. (NYSE:OUT) Announces Quarterly Dividend of $0.30

Key Points

• OUTFRONT announced a $0.30 quarterly dividend payable June 30 with a record/ex-dividend date of June 5, implying a roughly 3.5% annual yield.
• The company currently has a 141.2% payout ratio (i.e., dividends not covered by current earnings), though analysts forecast $2.12 EPS next year which would lower the expected payout ratio to about 56.6%.
• OUTFRONT beat quarterly expectations with $0.34 EPS vs. $0.07 expected and revenue up 10% year-over-year to $429.6M, its stock rose ~4% and trades near its 12-month high amid mostly positive analyst ratings.

OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) announced a quarterly dividend on Thursday, May 7th. Stockholders of record on Friday, June 5th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, June 5th.

OUTFRONT Media has increased its dividend by an average of 0.3%annually over the last three years. OUTFRONT Media has a dividend payout ratio of 141.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect OUTFRONT Media to earn $2.12 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 56.6%.

OUTFRONT Media Stock Up 4.0%

OUTFRONT Media stock opened at $34.12 on Friday. The stock has a market capitalization of $6.01 billion, a PE ratio of 42.41, a price-to-earnings-growth ratio of 1.53 and a beta of 1.50. OUTFRONT Media has a 12 month low of $14.45 and a 12 month high of $34.96. The business has a 50 day simple moving average of $28.49 and a 200-day simple moving average of $25.00. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.92 and a quick ratio of 0.92.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.27. The business had revenue of $429.60 million during the quarter, compared to analysts' expectations of $431.44 million. OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The business's revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, analysts anticipate that OUTFRONT Media will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OUT. TD Cowen boosted their price target on OUTFRONT Media from $24.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Wells Fargo & Company lifted their target price on shares of OUTFRONT Media from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Morgan Stanley reaffirmed an "overweight" rating and set a $35.00 target price on shares of OUTFRONT Media in a report on Thursday. Zacks Research lowered shares of OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. Finally, Barrington Research upped their target price on shares of OUTFRONT Media from $27.00 to $33.00 and gave the stock an "outperform" rating in a report on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $28.86.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.

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