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

OUTFRONT Media (NYSE:OUT) announced its earnings results on Thursday. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.21), Zacks reports. The business 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 6.86% and a return on equity of 21.17%. OUTFRONT Media’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS.

OUTFRONT Media Stock Performance

OUT traded up $2.52 during trading on Friday, reaching $20.14. 6,466,310 shares of the company’s stock were exchanged, compared to its average volume of 1,367,283. The company has a market capitalization of $3.37 billion, a P/E ratio of 29.62, a PEG ratio of 1.03 and a beta of 1.82. 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 business has a 50 day moving average price of $18.19 and a 200 day moving average price of $17.32. OUTFRONT Media has a fifty-two week low of $12.95 and a fifty-two week high of $20.19.

OUTFRONT Media Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, December 5th. OUTFRONT Media’s dividend payout ratio (DPR) is 206.90%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen raised OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Barrington Research reiterated an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research note on Friday. Finally, Morgan Stanley raised their price target on shares of OUTFRONT Media from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Insiders Place Their Bets

In other news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 8,913,813 shares of the company’s stock, valued at approximately $160,983,462.78. This trade represents a 48.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Emilio Bonanni sold 4,126 shares of OUTFRONT Media stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.38, for a total transaction of $79,961.88. Following the sale, the executive vice president owned 4,170 shares in the company, valued at approximately $80,814.60. This trade represents a 49.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On OUTFRONT Media

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming raised its holdings in shares of OUTFRONT Media by 155.5% in the 2nd quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock worth $130,000 after buying an additional 4,853 shares in the last quarter. Osaic Holdings Inc. grew its position in OUTFRONT Media by 45.4% in the second quarter. Osaic Holdings Inc. now owns 9,126 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 2,851 shares during the period. Orion Porfolio Solutions LLC acquired a new position in OUTFRONT Media during the second quarter worth $295,000. Creative Planning raised its stake in OUTFRONT Media by 26.3% during the second quarter. Creative Planning now owns 19,171 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 3,992 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of OUTFRONT Media by 9.7% during the second quarter. BNP Paribas Financial Markets now owns 20,689 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 1,832 shares during the period.

About OUTFRONT Media

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.