OUTFRONT Media (NYSE:OUT) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

OUTFRONT Media (NYSE:OUT) released its quarterly earnings data on Thursday. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21), Zacks reports. OUTFRONT Media had a return on equity of 21.17% and a net margin of 6.86%.The company had revenue of $467.50 million for the quarter, compared to the consensus estimate of $458.32 million. During the same period last year, the company earned $0.19 EPS. OUTFRONT Media’s revenue for the quarter was up 3.5% compared to the same quarter last year.

OUTFRONT Media Stock Up 14.3%

NYSE OUT traded up $2.52 on Friday, reaching $20.14. The company had a trading volume of 6,466,310 shares, compared to its average volume of 1,367,283. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.60. The company’s fifty day moving average is $18.19 and its 200 day moving average is $17.34. OUTFRONT Media has a 52-week low of $12.95 and a 52-week high of $20.19. The stock has a market capitalization of $3.37 billion, a P/E ratio of 29.62, a P/E/G ratio of 1.18 and a beta of 1.82.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, December 5th. OUTFRONT Media’s dividend payout ratio is presently 206.90%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OUT shares. Wall Street Zen raised OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Barrington Research restated an “outperform” rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Friday. Morgan Stanley upped their target price on OUTFRONT Media from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Insider Buying and Selling at OUTFRONT Media

In other OUTFRONT Media news, EVP Mark Emilio Bonanni sold 4,126 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president owned 4,170 shares in the company, valued at $80,814.60. This represents a 49.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the transaction, the insider directly owned 8,913,813 shares of the company’s stock, valued at $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On OUTFRONT Media

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its stake in shares of OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock worth $80,393,000 after buying an additional 448,993 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in OUTFRONT Media by 10.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,888,621 shares of the financial services provider’s stock worth $47,142,000 after acquiring an additional 275,023 shares during the last quarter. Ameriprise Financial Inc. raised its stake in OUTFRONT Media by 85.2% during the second quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider’s stock valued at $29,192,000 after purchasing an additional 822,845 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of OUTFRONT Media by 22.8% in the 2nd quarter. Bank of America Corp DE now owns 896,729 shares of the financial services provider’s stock valued at $14,635,000 after purchasing an additional 166,469 shares during the last quarter. Finally, Select Equity Group L.P. increased its position in OUTFRONT Media by 22.6% during the second quarter. Select Equity Group L.P. now owns 596,322 shares of the financial services provider’s stock valued at $9,732,000 after acquiring an additional 109,816 shares during the last quarter.

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.