Zacks: Analysts Anticipate OUTFRONT Media Inc. (OUT) Will Post Earnings of $0.57 Per Share
Analysts expect that OUTFRONT Media Inc. (NYSE:OUT) will post $0.57 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have provided estimates for OUTFRONT Media’s earnings. The lowest EPS estimate is $0.55 and the highest is $0.58. OUTFRONT Media posted earnings of $0.28 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 103.6%. The business is expected to report its next earnings report after the market closes on Monday, November 6th.
On average, analysts expect that OUTFRONT Media will report full-year earnings of $2.01 per share for the current financial year, with EPS estimates ranging from $1.95 to $2.05. For the next financial year, analysts forecast that the business will post earnings of $2.20 per share, with EPS estimates ranging from $2.15 to $2.24. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover OUTFRONT Media.
A number of brokerages recently commented on OUT. Wells Fargo & Company reiterated an “outperform” rating and issued a $30.00 target price on shares of OUTFRONT Media in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. ValuEngine lowered OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Loop Capital reiterated a “buy” rating and issued a $28.00 target price (up previously from $27.00) on shares of OUTFRONT Media in a research report on Thursday, September 28th. Finally, BidaskClub lowered OUTFRONT Media from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. OUTFRONT Media currently has a consensus rating of “Hold” and an average target price of $30.17.
OUTFRONT Media (NYSE:OUT) traded down 0.08% during midday trading on Friday, reaching $24.02. 579,370 shares of the company’s stock were exchanged. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 32.03 and a beta of 1.19. OUTFRONT Media has a 12-month low of $20.82 and a 12-month high of $27.89. The firm has a 50-day moving average price of $23.08 and a 200 day moving average price of $23.34.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date was Thursday, September 7th. OUTFRONT Media’s payout ratio is presently 189.48%.
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A number of large investors have recently made changes to their positions in OUT. BlackRock Inc. lifted its holdings in OUTFRONT Media by 6,693.0% in the first quarter. BlackRock Inc. now owns 7,335,438 shares of the financial services provider’s stock valued at $194,756,000 after acquiring an additional 7,227,453 shares during the period. Janus Henderson Group PLC acquired a new position in OUTFRONT Media in the second quarter valued at approximately $100,424,000. Daiwa Securities Group Inc. lifted its holdings in OUTFRONT Media by 69.8% in the second quarter. Daiwa Securities Group Inc. now owns 3,864,333 shares of the financial services provider’s stock valued at $89,343,000 after acquiring an additional 1,589,096 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in OUTFRONT Media by 53.7% in the second quarter. Deprince Race & Zollo Inc. now owns 2,980,580 shares of the financial services provider’s stock valued at $68,911,000 after acquiring an additional 1,040,813 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in OUTFRONT Media by 7.3% in the second quarter. JPMorgan Chase & Co. now owns 14,230,026 shares of the financial services provider’s stock valued at $328,999,000 after acquiring an additional 973,398 shares during the period.
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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