Zacks: Analysts Expect OUTFRONT Media Inc. (OUT) Will Post Quarterly Sales of $391.12 Million
Wall Street brokerages expect OUTFRONT Media Inc. (NYSE:OUT) to report sales of $391.12 million for the current quarter, Zacks reports. Three analysts have made estimates for OUTFRONT Media’s earnings, with the highest sales estimate coming in at $392.00 million and the lowest estimate coming in at $390.06 million. OUTFRONT Media reported sales of $382.80 million in the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The company is scheduled to announce its next earnings results after the market closes on Monday, November 6th.
According to Zacks, analysts expect that OUTFRONT Media will report full-year sales of $391.12 million for the current fiscal year, with estimates ranging from $1.52 billion to $1.53 billion. For the next fiscal year, analysts expect that the company will report sales of $1.57 billion per share, with estimates ranging from $1.56 billion to $1.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow OUTFRONT Media.
A number of research analysts have weighed in on OUT shares. Zacks Investment Research upgraded shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. BidaskClub downgraded shares of OUTFRONT Media from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. ValuEngine downgraded shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Wells Fargo & Company restated an “outperform” rating and set a $30.00 price target on shares of OUTFRONT Media in a research report on Tuesday, October 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $26.00 price objective (down previously from $29.00) on shares of OUTFRONT Media in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. OUTFRONT Media has an average rating of “Hold” and an average target price of $30.17.
A number of institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of OUTFRONT Media by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,106 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 478 shares in the last quarter. Pacad Investment Ltd. lifted its stake in shares of OUTFRONT Media by 54.3% in the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,900 shares during the period. Smithfield Trust Co. lifted its stake in shares of OUTFRONT Media by 435.6% in the second quarter. Smithfield Trust Co. now owns 5,742 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 4,670 shares during the period. SG Americas Securities LLC acquired a new stake in shares of OUTFRONT Media in the first quarter valued at about $204,000. Finally, Jane Street Group LLC acquired a new stake in shares of OUTFRONT Media in the first quarter valued at about $210,000.
OUTFRONT Media (NYSE:OUT) opened at 23.30 on Tuesday. OUTFRONT Media has a one year low of $20.82 and a one year high of $27.89. The company has a market capitalization of $3.23 billion, a PE ratio of 31.11 and a beta of 1.19. The company has a 50-day moving average price of $23.12 and a 200-day moving average price of $23.28.
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OUTFRONT Media Company Profile
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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