Outfront Media Inc (NYSE:OUT) – Barrington Research raised their Q2 2019 earnings estimates for shares of Outfront Media in a research report issued to clients and investors on Monday, May 13th. Barrington Research analyst J. Goss now forecasts that the financial services provider will earn $0.65 per share for the quarter, up from their prior estimate of $0.62. Barrington Research has a “Buy” rating and a $29.00 price objective on the stock. Barrington Research also issued estimates for Outfront Media’s Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.72 EPS, FY2019 earnings at $2.29 EPS and FY2020 earnings at $2.43 EPS.
Several other research firms also recently weighed in on OUT. Zacks Investment Research raised shares of Outfront Media from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Tuesday, April 30th. CIBC initiated coverage on shares of Outfront Media in a research report on Friday, March 29th. They set an “outperform” rating and a $30.00 price objective for the company. Oppenheimer initiated coverage on shares of Outfront Media in a research report on Thursday, March 28th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Citigroup downgraded shares of Outfront Media from a “buy” rating to a “neutral” rating and set a $20.81 price objective for the company. in a research report on Thursday, January 31st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $26.09.
OUT opened at $25.58 on Thursday. The stock has a market capitalization of $3.63 billion, a PE ratio of 11.90, a P/E/G ratio of 1.47 and a beta of 1.25. Outfront Media has a 1-year low of $16.81 and a 1-year high of $25.93. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 3.07.
Outfront Media (NYSE:OUT) last released its earnings results on Tuesday, May 7th. The financial services provider reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.23). The company had revenue of $371.70 million during the quarter, compared to the consensus estimate of $364.55 million. Outfront Media had a return on equity of 9.36% and a net margin of 6.40%. Outfront Media’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS.
Large investors have recently made changes to their positions in the stock. FMR LLC grew its position in Outfront Media by 9.9% in the 1st quarter. FMR LLC now owns 13,276,952 shares of the financial services provider’s stock worth $310,681,000 after purchasing an additional 1,200,483 shares during the last quarter. CWM Advisors LLC bought a new position in Outfront Media in the 1st quarter worth about $213,000. HighTower Advisors LLC grew its position in Outfront Media by 0.6% in the 1st quarter. HighTower Advisors LLC now owns 850,119 shares of the financial services provider’s stock worth $19,884,000 after purchasing an additional 5,273 shares during the last quarter. Select Equity Group L.P. bought a new position in Outfront Media in the 1st quarter worth about $9,029,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in Outfront Media by 130.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,965 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,112 shares during the last quarter. 95.48% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Jeremy J. Male sold 80,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.54, for a total transaction of $1,883,200.00. Following the completion of the sale, the chief executive officer now owns 392,703 shares of the company’s stock, valued at approximately $9,244,228.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date is Thursday, June 6th. Outfront Media’s dividend payout ratio is presently 66.98%.
About Outfront Media
OUTFRONT leverages the power of technology, location and creativity to connect 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 is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.
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