Outfront Media Inc (NYSE:OUT) announced a quarterly dividend on Wednesday, July 25th, Wall Street Journal reports. Investors of record on Friday, September 7th will be paid a dividend of 0.36 per share by the financial services provider on Friday, September 28th. This represents a $1.44 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date of this dividend is Thursday, September 6th.
Outfront Media has a dividend payout ratio of 70.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Outfront Media to earn $2.23 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 64.6%.
Shares of Outfront Media stock opened at $19.85 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.28 and a quick ratio of 1.28. Outfront Media has a twelve month low of $17.75 and a twelve month high of $25.30. The firm has a market cap of $2.77 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.32 and a beta of 1.10.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Outfront Media from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. ValuEngine raised shares of Outfront Media from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 14th. Wells Fargo & Co reissued a “market perform” rating and issued a $27.00 price objective (up from $25.00) on shares of Outfront Media in a research report on Thursday, August 9th. Morgan Stanley decreased their price objective on shares of Outfront Media from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Friday, June 22nd. Finally, Citigroup decreased their price objective on shares of Outfront Media from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.80.
About Outfront Media
OUTFRONT Media connects brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its ON Smart Media platform, OUTFRONT Media is implementing digital technology that will fundamentally change the ways advertisers engage people on-the-go.
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