OUTFRONT Media (NYSE:OUT) Posts Earnings Results, Misses Estimates By $0.21 EPS

OUTFRONT Media (NYSE:OUT) posted its quarterly earnings results on Thursday. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21), Zacks reports. The company had revenue of $467.50 million during the quarter, compared to analysts’ expectations of $458.32 million. OUTFRONT Media had a return on equity of 21.17% and a net margin of 6.86%.OUTFRONT Media’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share.

OUTFRONT Media Stock Up 14.3%

Shares of OUTFRONT Media stock traded up $2.52 during midday trading on Friday, reaching $20.14. 6,466,310 shares of the company’s stock traded hands, compared to its average volume of 1,367,283. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61. OUTFRONT Media has a 52 week low of $12.95 and a 52 week high of $20.19. The company’s 50 day simple moving average is $18.19 and its 200 day simple moving average is $17.32. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 1.03 and a beta of 1.82.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, December 5th. This represents a $1.20 annualized dividend and a dividend yield of 6.0%. OUTFRONT Media’s dividend payout ratio is 206.90%.

Analyst Ratings Changes

OUT has been the topic of several research reports. Morgan Stanley upped their price objective on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Barrington Research restated an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a report on Friday. Wall Street Zen raised shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Insiders Place Their Bets

In other OUTFRONT Media news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the transaction, the insider directly owned 8,913,813 shares of the company’s stock, valued at $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the transaction, the executive vice president owned 4,170 shares in the company, valued at approximately $80,814.60. This trade represents a 49.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On OUTFRONT Media

Several institutional investors and hedge funds have recently added to or reduced their stakes in OUT. Ameriprise Financial Inc. boosted its position in OUTFRONT Media by 85.2% during the second quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider’s stock worth $29,192,000 after purchasing an additional 822,845 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of OUTFRONT Media by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock worth $80,393,000 after buying an additional 448,993 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of OUTFRONT Media by 10.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,888,621 shares of the financial services provider’s stock worth $47,142,000 after buying an additional 275,023 shares during the period. Bank of America Corp DE grew its stake in OUTFRONT Media by 22.8% in the 2nd quarter. Bank of America Corp DE now owns 896,729 shares of the financial services provider’s stock valued at $14,635,000 after buying an additional 166,469 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in OUTFRONT Media in the 2nd quarter valued at $2,519,000.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.