OUTFRONT Media Inc. (OUT) to Issue Quarterly Dividend of $0.30 on September 30th

OUTFRONT Media Inc. (NYSE:OUT) announced a quarterly dividend on Tuesday, August 5th, RTT News reports. Shareholders of record on Friday, September 5th will be paid a dividend of 0.30 per share by the financial services provider on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, September 5th.

OUTFRONT Media has a payout ratio of 141.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect OUTFRONT Media to earn $1.72 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 69.8%.

OUTFRONT Media Price Performance

Shares of NYSE:OUT opened at $18.45 on Wednesday. OUTFRONT Media has a fifty-two week low of $12.95 and a fifty-two week high of $19.80. The business has a 50-day moving average of $17.80 and a two-hundred day moving average of $16.71. The stock has a market capitalization of $3.09 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.11 and a beta of 1.87. The company has a debt-to-equity ratio of 4.60, a current ratio of 0.61 and a quick ratio of 0.61.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. OUTFRONT Media had a return on equity of 18.07% and a net margin of 5.99%.The company had revenue of $460.20 million during the quarter, compared to analysts’ expectations of $463.16 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that OUTFRONT Media will post 1.59 EPS for the current fiscal year.

Insider Activity

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total value of $79,961.88. Following the sale, the executive vice president directly owned 4,170 shares in the company, valued at approximately $80,814.60. This represents a 49.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Richard H. Sauer sold 20,109 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $15.88, for a total value of $319,330.92. Following the completion of the sale, the executive vice president owned 70,836 shares in the company, valued at approximately $1,124,875.68. This represents a 22.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,126 shares of company stock worth $871,272. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On OUTFRONT Media

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of OUTFRONT Media by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider’s stock valued at $11,093,000 after purchasing an additional 16,470 shares during the period. GAMMA Investing LLC grew its stake in shares of OUTFRONT Media by 1,484.2% in the 1st quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 56,342 shares during the period. SG Americas Securities LLC grew its stake in shares of OUTFRONT Media by 429.8% in the 1st quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 26,577 shares during the period. Pacific Heights Asset Management LLC grew its stake in shares of OUTFRONT Media by 122.2% in the 1st quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider’s stock valued at $8,070,000 after purchasing an additional 275,000 shares during the period. Finally, New Age Alpha Advisors LLC grew its stake in shares of OUTFRONT Media by 162.1% in the 1st quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider’s stock valued at $1,996,000 after purchasing an additional 76,486 shares during the period.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.