Outfront Media Inc. to Post FY2016 Earnings of $2.12 Per Share, Wedbush Forecasts (OUT)
Outfront Media Inc. (NYSE:OUT) – Wedbush boosted their FY2016 earnings per share (EPS) estimates for Outfront Media in a report issued on Tuesday. Wedbush analyst J. Dix now expects that the firm will post earnings per share of $2.12 for the year, up from their prior estimate of $2.05. Wedbush has a “Neutral” rating and a $26.00 price target on the stock. Wedbush also issued estimates for Outfront Media’s Q4 2016 earnings at $0.53 EPS and FY2017 earnings at $2.16 EPS.
OUT has been the subject of a number of other research reports. Loop Capital initiated coverage on shares of Outfront Media in a research note on Monday, September 12th. They set a “hold” rating and a $23.00 price target for the company. Zacks Investment Research upgraded shares of Outfront Media from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday. Finally, Gabelli began coverage on shares of Outfront Media in a research note on Friday, July 22nd. They issued a “hold” rating and a $29.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.
Shares of Outfront Media (NYSE:OUT) opened at 21.77 on Wednesday. The firm’s market cap is $3.00 billion. Outfront Media has a 1-year low of $18.01 and a 1-year high of $24.32. The stock’s 50 day moving average is $22.31 and its 200-day moving average is $22.60.
Outfront Media (NYSE:OUT) last posted its earnings results on Monday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.25. The company had revenue of $382.80 million for the quarter, compared to analyst estimates of $382.38 million. Outfront Media had a negative return on equity of 0.79% and a negative net margin of 0.63%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS.
Institutional investors have recently modified their holdings of the company. Uniplan Investment Counsel Inc. increased its position in shares of Outfront Media by 3.8% in the third quarter. Uniplan Investment Counsel Inc. now owns 1,870,146 shares of the company’s stock worth $44,228,000 after buying an additional 68,266 shares during the period. Morgan Stanley increased its position in shares of Outfront Media by 2.0% in the third quarter. Morgan Stanley now owns 642,443 shares of the company’s stock worth $15,193,000 after buying an additional 12,891 shares during the period. King Luther Capital Management Corp increased its position in shares of Outfront Media by 37.4% in the third quarter. King Luther Capital Management Corp now owns 500,715 shares of the company’s stock worth $11,842,000 after buying an additional 136,210 shares during the period. Emerald Acquisition Ltd. increased its position in shares of Outfront Media by 0.5% in the third quarter. Emerald Acquisition Ltd. now owns 560,405 shares of the company’s stock worth $13,254,000 after buying an additional 2,957 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Outfront Media by 0.9% in the third quarter. California State Teachers Retirement System now owns 301,686 shares of the company’s stock worth $7,135,000 after buying an additional 2,600 shares during the period.
In related news, EVP Andrew Sriubas purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were bought at an average cost of $20.88 per share, with a total value of $125,280.00. Following the acquisition, the executive vice president now owns 19,319 shares of the company’s stock, valued at $403,380.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donald R. Shassian purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was bought at an average cost of $21.90 per share, for a total transaction of $109,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 137,438 shares in the company, valued at approximately $3,009,892.20. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Wednesday, December 7th. Outfront Media’s dividend payout ratio (DPR) is currently -1,942.58%.
Outfront Media Company Profile
OUTFRONT Media Inc, formerly CBS Outdoor Americas Inc, is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments.
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