Wall Street brokerages expect that Outfront Media Inc (NYSE:OUT) will post $460.58 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Outfront Media’s earnings. The highest sales estimate is $465.01 million and the lowest is $458.30 million. Outfront Media posted sales of $414.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.2%. The firm is expected to issue its next earnings results on Monday, November 4th.
According to Zacks, analysts expect that Outfront Media will report full year sales of $1.77 billion for the current year, with estimates ranging from $1.77 billion to $1.78 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.84 billion, with estimates ranging from $1.82 billion to $1.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Outfront Media.
Outfront Media (NYSE:OUT) last announced its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.25). The business had revenue of $459.90 million during the quarter, compared to analyst estimates of $451.73 million. Outfront Media had a net margin of 9.45% and a return on equity of 14.27%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) EPS.
Shares of Outfront Media stock traded down $0.49 during mid-day trading on Wednesday, reaching $26.74. 746,200 shares of the stock were exchanged, compared to its average volume of 1,020,803. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 3.06. The firm has a 50-day simple moving average of $27.28 and a 200 day simple moving average of $25.30. Outfront Media has a fifty-two week low of $16.81 and a fifty-two week high of $28.41.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date is Thursday, September 5th. Outfront Media’s dividend payout ratio (DPR) is currently 66.98%.
A number of large investors have recently modified their holdings of OUT. Nuveen Asset Management LLC bought a new stake in Outfront Media during the 2nd quarter worth about $54,299,000. FMR LLC boosted its stake in shares of Outfront Media by 9.9% in the 1st quarter. FMR LLC now owns 13,276,952 shares of the financial services provider’s stock valued at $310,681,000 after purchasing an additional 1,200,483 shares during the last quarter. LSV Asset Management boosted its stake in shares of Outfront Media by 52.1% in the 2nd quarter. LSV Asset Management now owns 2,805,889 shares of the financial services provider’s stock valued at $72,363,000 after purchasing an additional 961,351 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Outfront Media by 212.5% in the 2nd quarter. Invesco Ltd. now owns 1,400,560 shares of the financial services provider’s stock valued at $36,121,000 after purchasing an additional 952,323 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Outfront Media by 101.0% in the 2nd quarter. Morgan Stanley now owns 1,616,043 shares of the financial services provider’s stock valued at $41,678,000 after purchasing an additional 812,151 shares during the last quarter. 94.89% of the stock is currently owned by hedge funds and other institutional investors.
Outfront Media Company Profile
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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.
Further Reading: What is the price-to-earnings growth (PEG) ratio?
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