FY2024 EPS Estimates for OUTFRONT Media Increased by Analyst

OUTFRONT Media Inc. (NYSE:OUT) – Investment analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of OUTFRONT Media in a report issued on Tuesday, December 3rd. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $1.56 for the year, up from their previous estimate of $1.54. The consensus estimate for OUTFRONT Media’s current full-year earnings is $1.56 per share. Zacks Research also issued estimates for OUTFRONT Media’s FY2025 earnings at $1.64 EPS and FY2026 earnings at $1.76 EPS.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company assumed coverage on shares of OUTFRONT Media in a research report on Thursday, September 19th. They set an “overweight” rating and a $22.00 target price for the company. Barrington Research reissued an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, November 13th. StockNews.com lowered OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Wolfe Research cut OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.25.

OUTFRONT Media Stock Performance

OUT stock opened at $18.95 on Friday. The firm has a 50-day simple moving average of $18.54 and a two-hundred day simple moving average of $16.53. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. OUTFRONT Media has a one year low of $12.13 and a one year high of $19.50. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.22 and a beta of 1.96.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings data on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company had revenue of $451.90 million for the quarter, compared to the consensus estimate of $456.38 million. During the same period in the previous year, the business earned $0.46 EPS. OUTFRONT Media’s revenue for the quarter was down .6% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OUT. Asset Management One Co. Ltd. increased its stake in shares of OUTFRONT Media by 39,437.3% in the third quarter. Asset Management One Co. Ltd. now owns 196,896 shares of the financial services provider’s stock worth $3,619,000 after acquiring an additional 196,398 shares during the period. First Eagle Investment Management LLC grew its position in OUTFRONT Media by 48.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 711,491 shares of the financial services provider’s stock worth $10,174,000 after purchasing an additional 232,300 shares during the period. SG Americas Securities LLC lifted its holdings in shares of OUTFRONT Media by 266.2% in the 2nd quarter. SG Americas Securities LLC now owns 48,711 shares of the financial services provider’s stock valued at $697,000 after buying an additional 35,409 shares during the period. Westwood Holdings Group Inc. grew its holdings in OUTFRONT Media by 30.0% during the second quarter. Westwood Holdings Group Inc. now owns 650,000 shares of the financial services provider’s stock worth $9,295,000 after acquiring an additional 150,000 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in OUTFRONT Media during the second quarter worth about $1,293,000.

OUTFRONT Media Cuts Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 15th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s payout ratio is 87.59%.

About OUTFRONT Media

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.