$456.83 Million in Sales Expected for Outfront Media Inc (NYSE:OUT) This Quarter

Equities analysts expect that Outfront Media Inc (NYSE:OUT) will announce sales of $456.83 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Outfront Media’s earnings. The lowest sales estimate is $445.60 million and the highest is $465.01 million. Outfront Media posted sales of $414.20 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.3%. The firm is expected to issue its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Outfront Media will report full year sales of $1.77 billion for the current fiscal year, with estimates ranging from $1.75 billion to $1.78 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.83 billion, with estimates ranging from $1.80 billion to $1.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Outfront Media.

Outfront Media (NYSE:OUT) last issued its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.25). Outfront Media had a return on equity of 14.27% and a net margin of 9.45%. The company had revenue of $459.90 million for the quarter, compared to the consensus estimate of $451.73 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis.

A number of equities analysts have recently weighed in on OUT shares. Barrington Research restated a “buy” rating and issued a $29.00 target price on shares of Outfront Media in a research note on Wednesday, May 29th. Imperial Capital boosted their target price on Outfront Media from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Zacks Investment Research upgraded Outfront Media from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Saturday, August 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Outfront Media currently has an average rating of “Buy” and an average target price of $27.85.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Outfront Media by 0.3% in the second quarter. BlackRock Inc. now owns 8,736,257 shares of the financial services provider’s stock valued at $225,307,000 after purchasing an additional 27,484 shares during the last quarter. Barings LLC raised its holdings in Outfront Media by 84.0% during the 2nd quarter. Barings LLC now owns 26,500 shares of the financial services provider’s stock valued at $683,000 after acquiring an additional 12,100 shares during the period. Royal Bank of Canada raised its holdings in Outfront Media by 31.1% during the 2nd quarter. Royal Bank of Canada now owns 57,676 shares of the financial services provider’s stock valued at $1,488,000 after acquiring an additional 13,685 shares during the period. Concourse Capital Management LLC raised its holdings in Outfront Media by 273.0% during the 2nd quarter. Concourse Capital Management LLC now owns 119,960 shares of the financial services provider’s stock valued at $3,094,000 after acquiring an additional 87,800 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Outfront Media by 94.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,820 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 1,855 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.

Shares of NYSE OUT traded down $0.57 during midday trading on Tuesday, reaching $27.32. The company’s stock had a trading volume of 678,963 shares, compared to its average volume of 871,519. Outfront Media has a 12-month low of $16.81 and a 12-month high of $28.41. The firm has a 50 day moving average price of $26.97 and a 200-day moving average price of $24.58. The stock has a market capitalization of $4.00 billion, a P/E ratio of 12.71, a PEG ratio of 1.44 and a beta of 1.11. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.88 and a quick ratio of 0.88.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.44 annualized dividend and a yield of 5.27%. Outfront Media’s payout ratio is 66.98%.

Outfront Media Company Profile

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.

Read More: How do CD ladders protect against rising interest rates?

Get a free copy of the Zacks research report on Outfront Media (OUT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Outfront Media (NYSE:OUT)

Receive News & Ratings for Outfront Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Outfront Media and related companies with MarketBeat.com's FREE daily email newsletter.