OUTFRONT Media Inc. (NYSE:OUT) Declares Quarterly Dividend of $0.33

Key Points

• OUTFRONT Media raised its quarterly dividend 10% to $0.33 per share, payable September 30 to shareholders of record on September 4. The annualized dividend is $1.20, representing a yield of approximately 4.1%.
• The current dividend payout ratio is elevated at 141.2%, meaning earnings do not fully cover the dividend; however, analysts expect next year’s earnings to support a lower projected payout ratio of 55.8%.
• OUTFRONT recently reported quarterly EPS of $0.34, beating estimates of $0.28, while revenue rose 10% year over year to $429.6 million. The stock opened at $32.09, near its 50-day moving average.

OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Friday, September 4th will be given a dividend of 0.33 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, September 4th. This is a 10.0% increase from OUTFRONT Media's previous quarterly dividend of $0.30.

OUTFRONT Media has raised its dividend by an average of 0.3%annually over the last three years. OUTFRONT Media has a dividend payout ratio of 141.2% indicating that 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 $2.15 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 55.8%.

OUTFRONT Media Trading Up 0.4%

OUT opened at $32.09 on Thursday. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49. OUTFRONT Media has a 52 week low of $16.64 and a 52 week high of $34.96. The business's 50 day moving average is $32.10 and its two-hundred day moving average is $29.56. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90.

OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The firm had revenue of $429.60 million during the quarter, compared to analysts' expectations of $431.44 million. During the same quarter in the prior year, the business earned $0.14 EPS. OUTFRONT Media's quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts predict that OUTFRONT Media will post 2.11 EPS for the current year.

Insider Activity at OUTFRONT Media

In other OUTFRONT Media news, EVP Richard H. Sauer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total transaction of $160,400.00. Following the transaction, the executive vice president owned 56,947 shares of the company's stock, valued at $1,826,859.76. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Michael Norton purchased 4,130 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $30.81 per share, for a total transaction of $127,245.30. Following the acquisition, the executive vice president owned 4,130 shares in the company, valued at $127,245.30. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 20,000 shares of company stock valued at $629,600 in the last ninety days. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OUTFRONT Media

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of OUTFRONT Media by 9.3% during the 1st quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider's stock worth $2,105,000 after purchasing an additional 11,073 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in OUTFRONT Media by 2.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider's stock valued at $1,388,000 after buying an additional 1,739 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in OUTFRONT Media by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock valued at $80,393,000 after buying an additional 448,993 shares in the last quarter. Empowered Funds LLC grew its stake in OUTFRONT Media by 12.4% during the first quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider's stock worth $345,000 after buying an additional 2,357 shares during the period. Finally, Woodline Partners LP increased its position in shares of OUTFRONT Media by 45.6% in the first quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider's stock worth $595,000 after acquiring an additional 11,559 shares in the last quarter.

About OUTFRONT Media

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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