Outfront Media Inc. (REIT) (NYSE:OUT) Expected to Announce Earnings of $0.35 Per Share

Wall Street analysts forecast that Outfront Media Inc. (REIT) (NYSE:OUT) will post earnings per share of $0.35 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Outfront Media’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.38. Outfront Media reported earnings of $0.19 per share during the same quarter last year, which indicates a positive year over year growth rate of 84.2%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 3rd.

On average, analysts expect that Outfront Media will report full-year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.86 to $0.93. For the next fiscal year, analysts anticipate that the company will report earnings of $1.79 per share, with EPS estimates ranging from $1.73 to $1.84. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Outfront Media.

Outfront Media (NYSE:OUT) last announced its quarterly earnings data on Thursday, August 5th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.15). Outfront Media had a negative return on equity of 8.11% and a negative net margin of 6.39%.

A number of research firms have recently weighed in on OUT. raised their price target on Outfront Media from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, May 19th. Morgan Stanley increased their price objective on Outfront Media from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, June 11th. Finally, Citigroup increased their price objective on Outfront Media from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, May 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $25.29.

In other Outfront Media news, CEO Jeremy J. Male sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $25.09, for a total value of $1,003,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard H. Sauer sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $25.01, for a total value of $200,080.00. The disclosure for this sale can be found here. Insiders sold a total of 53,000 shares of company stock worth $1,326,730 in the last ninety days. Insiders own 0.71% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Eagle Bay Advisors LLC bought a new position in shares of Outfront Media during the 2nd quarter worth approximately $46,000. Marshall Wace North America L.P. bought a new position in shares of Outfront Media during the 1st quarter worth approximately $44,000. Bank of Montreal Can lifted its position in shares of Outfront Media by 63.0% during the 1st quarter. Bank of Montreal Can now owns 3,298 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,275 shares during the period. Advisory Services Network LLC bought a new position in shares of Outfront Media during the 2nd quarter worth approximately $168,000. Finally, Man Group plc bought a new position in shares of Outfront Media during the 2nd quarter worth approximately $233,000. Institutional investors and hedge funds own 98.73% of the company’s stock.

Shares of OUT traded down $0.31 during midday trading on Friday, reaching $23.13. 27,309 shares of the stock were exchanged, compared to its average volume of 1,670,055. Outfront Media has a 12-month low of $12.88 and a 12-month high of $26.14. The firm has a 50 day simple moving average of $23.92 and a 200-day simple moving average of $23.49. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 2.83. The company has a market cap of $3.37 billion, a price-to-earnings ratio of -32.11, a P/E/G ratio of 3.04 and a beta of 1.92.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 2nd. Outfront Media’s dividend payout ratio (DPR) is currently 59.70%.

Outfront Media Company Profile

OUTFRONT Media, Inc engages in the provision of leasing services of 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 and roadways; and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.

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