$390.68 Million in Sales Expected for OUTFRONT Media Inc. (OUT) This Quarter
Equities research analysts expect OUTFRONT Media Inc. (NYSE:OUT) to announce sales of $390.68 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for OUTFRONT Media’s earnings. The highest sales estimate is $391.30 million and the lowest is $390.06 million. OUTFRONT Media reported sales of $382.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The business is scheduled to announce its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that OUTFRONT Media will report full year sales of $390.68 million for the current financial year, with estimates ranging from $1.52 billion to $1.53 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.57 billion per share, with estimates ranging from $1.56 billion to $1.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for OUTFRONT Media.
Several research analysts recently commented on the company. ValuEngine downgraded OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Barrington Research reaffirmed an “outperform” rating and issued a $26.00 target price (down from $29.00) on shares of OUTFRONT Media in a research note on Monday, August 14th. BidaskClub downgraded OUTFRONT Media from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Loop Capital raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, June 5th. Finally, Zacks Investment Research raised OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.71.
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Several institutional investors and hedge funds have recently modified their holdings of OUT. Asset Management One Co. Ltd. increased its stake in shares of OUTFRONT Media by 5.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,785 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 210 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of OUTFRONT Media by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,106 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 478 shares during the period. Pacad Investment Ltd. grew its holdings in shares of OUTFRONT Media by 54.3% during the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,900 shares during the period. Smithfield Trust Co. grew its holdings in shares of OUTFRONT Media by 435.6% during the 2nd quarter. Smithfield Trust Co. now owns 5,742 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 4,670 shares during the period. Finally, Quantbot Technologies LP grew its holdings in shares of OUTFRONT Media by 47.5% during the 1st quarter. Quantbot Technologies LP now owns 6,419 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 2,068 shares during the period.
OUTFRONT Media (NYSE OUT) traded down 0.51% on Friday, hitting $21.63. 835,739 shares of the company were exchanged. The stock has a market capitalization of $3.00 billion, a P/E ratio of 28.84 and a beta of 1.14. The stock’s 50-day moving average price is $22.01 and its 200-day moving average price is $23.82. OUTFRONT Media has a 52-week low of $21.00 and a 52-week high of $27.89.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date is Thursday, September 7th. OUTFRONT Media’s dividend payout ratio (DPR) is presently 189.48%.
About OUTFRONT Media
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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