Outfront Media (NYSE:OUT) posted its quarterly earnings results on Monday. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03, Fidelity Earnings reports. The business had revenue of $414.20 million during the quarter, compared to analysts’ expectations of $404.37 million. Outfront Media had a return on equity of 7.56% and a net margin of 5.88%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS.
OUT stock traded up $2.08 during midday trading on Tuesday, hitting $20.29. 168,372 shares of the stock were exchanged, compared to its average volume of 899,329. The stock has a market cap of $2.51 billion, a PE ratio of 10.20, a P/E/G ratio of 1.20 and a beta of 1.14. Outfront Media has a fifty-two week low of $17.27 and a fifty-two week high of $24.84. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.28 and a current ratio of 1.28.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.44 annualized dividend and a yield of 7.10%. Outfront Media’s dividend payout ratio is presently 72.00%.
OUT has been the subject of several recent analyst reports. Zacks Investment Research cut Outfront Media from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. Imperial Capital assumed coverage on Outfront Media in a report on Thursday, September 13th. They set an “inline” rating and a $22.00 price objective for the company. ValuEngine cut Outfront Media from a “sell” rating to a “strong sell” rating in a report on Friday, August 3rd. Wells Fargo & Co reaffirmed a “market perform” rating and set a $27.00 price objective (up from $25.00) on shares of Outfront Media in a report on Thursday, August 9th. Finally, Citigroup reduced their price objective on Outfront Media from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.60.
Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Outfront Media by 35.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,428,277 shares of the financial services provider’s stock worth $26,766,000 after buying an additional 375,800 shares in the last quarter. UBS Group AG grew its position in Outfront Media by 16.5% during the first quarter. UBS Group AG now owns 189,663 shares of the financial services provider’s stock valued at $3,555,000 after acquiring an additional 26,808 shares during the period. Royal Bank of Canada grew its position in Outfront Media by 13.2% during the first quarter. Royal Bank of Canada now owns 48,700 shares of the financial services provider’s stock valued at $913,000 after acquiring an additional 5,682 shares during the period. Xact Kapitalforvaltning AB grew its position in Outfront Media by 31.4% during the first quarter. Xact Kapitalforvaltning AB now owns 17,983 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 4,300 shares during the period. Finally, ZWJ Investment Counsel Inc. grew its position in Outfront Media by 1.8% during the second quarter. ZWJ Investment Counsel Inc. now owns 1,402,157 shares of the financial services provider’s stock valued at $27,272,000 after acquiring an additional 24,395 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.
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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