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

OUTFRONT Media Inc. (NYSE:OUT) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Friday, September 6th will be given a dividend of 0.30 per share by the financial services provider on Friday, September 27th. This represents a $1.20 annualized dividend and a dividend yield of 8.02%. The ex-dividend date is Friday, September 6th.

OUTFRONT Media has increased its dividend by an average of 46.7% per year over the last three years. OUTFRONT Media has a dividend payout ratio of 151.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect OUTFRONT Media to earn $1.62 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 74.1%.

OUTFRONT Media Trading Up 6.3 %

Shares of OUTFRONT Media stock traded up $0.89 during trading on Wednesday, reaching $14.97. 2,127,673 shares of the company were exchanged, compared to its average volume of 1,813,352. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 5.08. OUTFRONT Media has a twelve month low of $8.18 and a twelve month high of $17.02. The business has a 50-day moving average price of $14.60 and a 200-day moving average price of $14.79. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -5.82, a P/E/G ratio of 1.02 and a beta of 1.92.

OUTFRONT Media (NYSE:OUT) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.60. The firm had revenue of $477.30 million for the quarter, compared to analyst estimates of $482.27 million. OUTFRONT Media had a negative return on equity of 72.77% and a negative net margin of 23.38%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. Sell-side analysts anticipate that OUTFRONT Media will post 1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on OUT. TD Cowen began coverage on OUTFRONT Media in a report on Tuesday, July 16th. They set a “hold” rating and a $16.00 target price on the stock. Barrington Research reiterated an “outperform” rating and set a $17.00 target price on shares of OUTFRONT Media in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.20.

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.