OUTFRONT Media (NYSE:OUT - Get Free Report) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03, Zacks reports. OUTFRONT Media had a net margin of 5.99% and a return on equity of 17.54%. The firm had revenue of $460.20 million for the quarter, compared to analysts' expectations of $463.16 million. During the same period in the previous year, the firm posted $0.50 EPS. The company's revenue for the quarter was down 3.6% on a year-over-year basis.
OUTFRONT Media Stock Performance
Shares of OUTFRONT Media stock traded up $0.02 during trading on Thursday, hitting $17.69. 1,292,071 shares of the stock were exchanged, compared to its average volume of 1,585,346. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.89. The company has a fifty day moving average price of $16.96 and a 200-day moving average price of $16.76. OUTFRONT Media has a 1-year low of $12.95 and a 1-year high of $19.50. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.37.
OUTFRONT Media Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, September 5th. This represents a $1.20 annualized dividend and a dividend yield of 6.8%. OUTFRONT Media's payout ratio is currently 206.90%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Barrington Research reissued an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday. Morgan Stanley boosted their price target on shares of OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Monday. Wall Street Zen cut shares of OUTFRONT Media from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Citigroup reissued a "buy" rating and set a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.00.
Get Our Latest Stock Report on OUT
Insider Buying and Selling at OUTFRONT Media
In related news, EVP Richard H. Sauer sold 29,891 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $471,978.89. Following the transaction, the executive vice president owned 90,945 shares in the company, valued at approximately $1,436,021.55. This represents a 24.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of OUT. AQR Capital Management LLC grew its stake in OUTFRONT Media by 9.3% in the 1st quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider's stock valued at $2,105,000 after buying an additional 11,073 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in OUTFRONT Media by 2.1% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. grew its stake in OUTFRONT Media by 9.9% in the 1st 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 during the last quarter. Empowered Funds LLC grew its stake in OUTFRONT Media by 12.4% in the 1st quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider's stock valued at $345,000 after buying an additional 2,357 shares during the last quarter. Finally, Woodline Partners LP grew its stake in OUTFRONT Media by 45.6% in the 1st quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider's stock valued at $595,000 after buying an additional 11,559 shares during the last quarter.
About OUTFRONT Media
(
Get Free Report)
OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.
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