Key Points
- Insider sale: EVP Mark Emilio Bonanni sold 3,385 OUTFRONT Media shares for approximately $100,941, reducing his stake by 24.52% to 10,420 shares.
- Strong quarterly results: OUTFRONT reported $0.68 in quarterly EPS, exceeding estimates of $0.38, while revenue rose 13.5% year over year to $522.5 million.
- Dividend and analyst outlook: The company raised its quarterly dividend to $0.33 per share, equivalent to a 4.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $34.00.
OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) EVP Mark Emilio Bonanni sold 3,385 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $29.82, for a total value of $100,940.70. Following the completion of the sale, the executive vice president owned 10,420 shares of the company's stock, valued at approximately $310,724.40. This trade represents a 24.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
OUTFRONT Media Price Performance
Shares of OUT stock opened at $29.00 on Friday. OUTFRONT Media Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $34.96. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 20.86 and a beta of 1.48. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.67 and a current ratio of 0.67. The stock's 50-day simple moving average is $31.47 and its 200-day simple moving average is $30.26.
OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.38 by $0.30. The firm had revenue of $522.50 million during the quarter, compared to analyst estimates of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. OUTFRONT Media's revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. As a group, equities analysts forecast that OUTFRONT Media Inc. will post 2.18 earnings per share for the current fiscal year.
OUTFRONT Media Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, September 4th. This is a positive change from OUTFRONT Media's previous quarterly dividend of $0.30. OUTFRONT Media's dividend payout ratio (DPR) is currently 86.33%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $38.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. Morgan Stanley set a $37.00 target price on OUTFRONT Media in a research report on Friday, May 8th. Barrington Research set a $38.00 target price on OUTFRONT Media in a research note on Tuesday, May 12th. Wells Fargo & Company lifted their price target on OUTFRONT Media from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, TD Cowen reiterated a "buy" rating and set a $40.00 price target (up from $38.00) on shares of OUTFRONT Media in a research note on Thursday, August 6th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, OUTFRONT Media has an average rating of "Moderate Buy" and a consensus target price of $34.00.
View Our Latest Stock Analysis on OUTFRONT Media
Institutional Investors Weigh In On OUTFRONT Media
A number of hedge funds and other institutional investors have recently made changes to their positions in OUT. Advisory Services Network LLC acquired a new position in shares of OUTFRONT Media in the 3rd quarter valued at $29,000. Trust Co. of Vermont acquired a new stake in OUTFRONT Media during the second quarter valued at $34,000. EverSource Wealth Advisors LLC grew its position in OUTFRONT Media by 74.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider's stock valued at $43,000 after buying an additional 686 shares during the period. Farther Finance Advisors LLC increased its holdings in OUTFRONT Media by 157.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,431 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in OUTFRONT Media in the fourth quarter valued at $71,000.
About OUTFRONT Media
(
Get Free Report)
OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.
Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
