OUTFRONT Media Inc. (OUT) to Issue Special Dividend of $0.75 on December 31st

OUTFRONT Media Inc. (NYSE:OUT) declared a special dividend on Tuesday, November 12th,RTT News reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.75 per share by the financial services provider on Tuesday, December 31st. The ex-dividend date is Friday, November 15th.

OUTFRONT Media has raised its dividend by an average of 46.7% annually over the last three years. OUTFRONT Media has a payout ratio of 144.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect OUTFRONT Media to earn $1.64 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 73.2%.

OUTFRONT Media Trading Up 3.5 %

OUTFRONT Media stock traded up $0.65 during trading hours on Wednesday, reaching $18.98. The company had a trading volume of 350,822 shares, compared to its average volume of 1,754,244. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50-day moving average price of $18.01 and a 200 day moving average price of $16.08. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.18 and a beta of 1.94. OUTFRONT Media has a 12-month low of $11.59 and a 12-month high of $19.33.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). The company had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. OUTFRONT Media’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. Equities analysts forecast that OUTFRONT Media will post 1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

OUT has been the topic of a number of analyst reports. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company assumed coverage on OUTFRONT Media in a research report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen initiated coverage on OUTFRONT Media in a research report on Tuesday, July 16th. They set a “hold” rating and a $16.00 price target on the stock. Finally, Barrington Research lifted their price target on OUTFRONT Media from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.50.

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