OUTFRONT Media Inc. (NYSE:OUT) Announces $0.30 Quarterly Dividend

OUTFRONT Media Inc. (NYSE:OUT) declared a quarterly dividend on Thursday, November 6th. Shareholders of record on Friday, December 5th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, December 5th.

OUTFRONT Media has increased its dividend payment by an average of 0.0%annually over the last three years. 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 Stock Performance

OUTFRONT Media stock traded up $2.24 during trading on Friday, reaching $19.86. The company had a trading volume of 2,543,938 shares, compared to its average volume of 1,549,021. The firm’s 50-day simple moving average is $18.16 and its 200 day simple moving average is $17.28. OUTFRONT Media has a 52 week low of $12.95 and a 52 week high of $19.86. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 1.03 and a beta of 1.82. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60.

OUTFRONT Media (NYSE:OUT) last posted its earnings results on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The firm had revenue of $467.50 million for the quarter, compared to the consensus estimate of $458.32 million. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. Sell-side analysts forecast that OUTFRONT Media will post 1.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OUT has been the topic of a number of research analyst reports. Wall Street Zen upgraded OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Morgan Stanley upped their target price on OUTFRONT Media from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Finally, Barrington Research restated an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

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.