Barrington Research Research Analysts Decrease Earnings Estimates for Outfront Media Inc. (OUT)
Outfront Media Inc. (NYSE:OUT) – Barrington Research lowered their Q1 2017 earnings estimates for shares of Outfront Media in a research note issued on Monday. Barrington Research analyst J. Goss now anticipates that the firm will post earnings of $0.36 per share for the quarter, down from their prior forecast of $0.40. Barrington Research also issued estimates for Outfront Media’s FY2017 earnings at $2.11 EPS and FY2018 earnings at $2.24 EPS.
Outfront Media (NYSE:OUT) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate 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 net margin of 0.63% and a negative return on equity of 0.79%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Outfront Media from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Loop Capital assumed coverage on Outfront Media in a report on Monday, September 12th. They set a “hold” rating and a $23.00 target price on the stock. Gabelli assumed coverage on Outfront Media in a report on Friday, July 22nd. They set a “hold” rating and a $29.00 target price on the stock. Finally, Wedbush assumed coverage on Outfront Media in a report on Thursday, July 21st. They set a “neutral” rating and a $26.00 target price on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Outfront Media has an average rating of “Hold” and a consensus target price of $26.00.
Outfront Media (NYSE:OUT) opened at 22.60 on Wednesday. The firm’s market cap is $3.12 billion. The stock’s 50 day moving average price is $22.17 and its 200-day moving average price is $22.61. Outfront Media has a one year low of $18.01 and a one year high of $24.32.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.02%. Outfront Media’s dividend payout ratio (DPR) is -1,942.58%.
In other news, CEO Jeremy J. Male purchased 5,000 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were bought at an average cost of $21.38 per share, for a total transaction of $106,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 204,297 shares in the company, valued at approximately $4,367,869.86. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrew Sriubas purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was purchased at an average price of $20.88 per share, for a total transaction of $125,280.00. Following the completion of the acquisition, the executive vice president now owns 19,319 shares of the company’s stock, valued at $403,380.72. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of OUT. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Outfront Media by 33.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 672,243 shares of the company’s stock worth $15,898,000 after buying an additional 169,351 shares during the period. Credit Suisse AG raised its stake in Outfront Media by 3.3% in the third quarter. Credit Suisse AG now owns 114,910 shares of the company’s stock valued at $2,717,000 after buying an additional 3,638 shares during the last quarter. Jane Street Group LLC raised its stake in Outfront Media by 52.5% in the third quarter. Jane Street Group LLC now owns 41,698 shares of the company’s stock valued at $986,000 after buying an additional 14,347 shares during the last quarter. Panagora Asset Management Inc. raised its stake in Outfront Media by 43.7% in the third quarter. Panagora Asset Management Inc. now owns 7,732 shares of the company’s stock valued at $183,000 after buying an additional 2,350 shares during the last quarter. Finally, York Capital Management Global Advisors LLC bought a new stake in Outfront Media during the third quarter valued at about $52,149,000.
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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