Outfront Media (OUT) Issues Quarterly Earnings Results, Misses Expectations By $0.23 EPS

Outfront Media (NYSE:OUT) announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.23), Briefing.com reports. The firm had revenue of $371.70 million during the quarter, compared to the consensus estimate of $364.55 million. Outfront Media had a return on equity of 9.36% and a net margin of 6.40%. Outfront Media’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS.

Shares of NYSE:OUT traded down $0.22 on Friday, hitting $24.65. The company had a trading volume of 2,266,500 shares, compared to its average volume of 963,185. Outfront Media has a 1 year low of $16.81 and a 1 year high of $25.93. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.07. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.47 and a beta of 1.25.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.44 annualized dividend and a dividend yield of 5.84%. Outfront Media’s dividend payout ratio is 66.98%.

A number of brokerages have issued reports on OUT. Citigroup lowered shares of Outfront Media from a “buy” rating to a “neutral” rating and set a $20.81 price target on the stock. in a report on Thursday, January 31st. Oppenheimer began coverage on shares of Outfront Media in a report on Thursday, March 28th. They issued a “buy” rating and a $30.00 price target on the stock. Barrington Research reissued a “buy” rating and issued a $29.00 price target on shares of Outfront Media in a report on Monday, May 13th. Zacks Investment Research raised shares of Outfront Media from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, April 30th. Finally, CIBC began coverage on shares of Outfront Media in a research report on Friday, March 29th. They issued an “outperform” rating and a $30.00 target price for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $26.09.

In other news, CEO Jeremy J. Male sold 80,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.54, for a total value of $1,883,200.00. Following the completion of the sale, the chief executive officer now directly owns 392,703 shares of the company’s stock, valued at approximately $9,244,228.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of OUT. BlackRock Inc. lifted its position in Outfront Media by 21.5% during the 1st quarter. BlackRock Inc. now owns 8,708,773 shares of the financial services provider’s stock valued at $203,787,000 after acquiring an additional 1,540,539 shares during the period. Norges Bank purchased a new position in Outfront Media during the 4th quarter valued at about $27,335,000. Millennium Management LLC lifted its position in Outfront Media by 339.2% during the 4th quarter. Millennium Management LLC now owns 1,941,788 shares of the financial services provider’s stock valued at $35,185,000 after acquiring an additional 1,499,713 shares during the period. Vanguard Group Inc lifted its position in Outfront Media by 6.6% during the 3rd quarter. Vanguard Group Inc now owns 19,594,607 shares of the financial services provider’s stock valued at $390,912,000 after acquiring an additional 1,216,208 shares during the period. Finally, Vanguard Group Inc. lifted its position in Outfront Media by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,594,607 shares of the financial services provider’s stock valued at $390,912,000 after acquiring an additional 1,216,208 shares during the period. 94.99% of the stock is owned by institutional investors.

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About Outfront Media

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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.

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Earnings History for Outfront Media (NYSE:OUT)

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