FY2024 Earnings Forecast for OUTFRONT Media Inc. Issued By Barrington Research (NYSE:OUT)

OUTFRONT Media Inc. (NYSE:OUT) – Barrington Research reduced their FY2024 EPS estimates for OUTFRONT Media in a note issued to investors on Monday, July 15th. Barrington Research analyst J. Goss now anticipates that the financial services provider will post earnings of $1.54 per share for the year, down from their previous estimate of $1.55. Barrington Research has a “Outperform” rating and a $17.00 price objective on the stock. The consensus estimate for OUTFRONT Media’s current full-year earnings is $1.55 per share.

Separately, TD Cowen initiated coverage on OUTFRONT Media in a report on Tuesday. They issued a “hold” rating and a $16.00 price target for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, OUTFRONT Media currently has a consensus rating of “Hold” and a consensus target price of $15.00.

OUTFRONT Media Stock Down 1.8 %

OUTFRONT Media stock opened at $15.69 on Wednesday. The business has a fifty day moving average price of $14.45 and a 200-day moving average price of $14.63. OUTFRONT Media has a 1-year low of $8.18 and a 1-year high of $17.02. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -5.90, a PEG ratio of 1.03 and a beta of 1.92. The company has a debt-to-equity ratio of 5.08, a current ratio of 0.58 and a quick ratio of 0.58.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. DAVENPORT & Co LLC lifted its holdings in shares of OUTFRONT Media by 145.8% during the first quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider’s stock worth $28,825,000 after purchasing an additional 1,020,719 shares during the period. Norges Bank purchased a new position in OUTFRONT Media during the 4th quarter worth approximately $13,779,000. Cove Street Capital LLC lifted its stake in OUTFRONT Media by 250.2% during the 4th quarter. Cove Street Capital LLC now owns 841,279 shares of the financial services provider’s stock valued at $11,744,000 after acquiring an additional 601,079 shares during the period. Lasalle Investment Management Securities LLC boosted its holdings in shares of OUTFRONT Media by 17.3% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock valued at $47,733,000 after acquiring an additional 419,706 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of OUTFRONT Media by 23.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,927,340 shares of the financial services provider’s stock worth $32,360,000 after acquiring an additional 371,978 shares during the period.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $0.30 per share. The ex-dividend date was Friday, June 7th. This represents a $1.20 dividend on an annualized basis and a yield of 7.65%. OUTFRONT Media’s dividend payout ratio is currently -45.11%.

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.