OUTFRONT Media Inc. (NYSE:OUT – Get Free Report) declared a quarterly dividend on Thursday, November 5th. Stockholders of record on Friday, December 4th will be given a dividend of $0.33 per share by the financial services provider on Thursday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, December 4th.
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 155.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect OUTFRONT Media to earn $2.24 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 58.9%.
OUTFRONT Media Trading Down 1.2%
OUTFRONT Media stock opened at $32.09 on Friday. OUTFRONT Media has a 12-month low of $17.40 and a 12-month high of $34.96. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $5.65 billion, a PE ratio of 14.01 and a beta of 1.56. The firm has a 50 day simple moving average of $29.66 and a 200-day simple moving average of $29.67.
OUTFRONT Media (NYSE:OUT – Get Free Report) last announced its earnings results on Thursday, November 5th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). OUTFRONT Media had a return on equity of 37.44% and a net margin of 12.66%. The firm had revenue of $511.10 million for the quarter, compared to the consensus estimate of $509.74 million. As a group, equities research analysts expect that OUTFRONT Media will post 2.18 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Mark Emilio Bonanni sold 3,385 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $29.82, for a total transaction of $100,940.70. Following the completion of the sale, the executive vice president directly owned 10,420 shares of the company’s stock, valued at $310,724.40. This represents a 24.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Matthew Siegel sold 25,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $27.84, for a total value of $696,000.00. Following the completion of the transaction, the executive vice president owned 264,925 shares of the company’s stock, valued at $7,375,512. This trade represents a 8.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.45% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Trust Co. of Vermont acquired a new stake in shares of OUTFRONT Media during the second quarter valued at approximately $34,000. EverSource Wealth Advisors LLC lifted its position in shares of OUTFRONT Media by 74.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 686 shares in the last quarter. TOP Private Wealth LLC. acquired a new position in OUTFRONT Media in the 2nd quarter worth approximately $72,000. Nykredit A S purchased a new position in OUTFRONT Media during the 2nd quarter worth approximately $84,000. Finally, CENTRAL TRUST Co grew its position in OUTFRONT Media by 164.9% during the 3rd quarter. CENTRAL TRUST Co now owns 2,752 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 1,713 shares in the last quarter.
About OUTFRONT Media
OUTFRONT Media Inc (NYSE: OUT) is an out-of-home media company that provides advertising services through a portfolio of billboard, transit and other outdoor advertising assets. The company helps advertisers reach consumers in high-traffic locations, including roads, urban centers, public transportation systems and other public spaces.
Its offerings include traditional printed billboards, digital billboards, transit displays and place-based media. OUTFRONT also provides related services such as media planning, creative support, audience analytics and technology-enabled advertising solutions, including digital and programmatic buying capabilities.
OUTFRONT primarily serves advertisers across the United States and Canada.
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