Key Points
- OUTFRONT Media EVP Matthew Siegel sold 25,000 shares at an average price of $27.84, totaling $696,000. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his direct holdings by 8.62% to 264,925 shares.
- The company reported stronger-than-expected quarterly results, with EPS of $0.68 versus the $0.38 consensus estimate and revenue of $522.5 million, up 13.5% year over year.
- OUTFRONT raised its quarterly dividend to $0.33 per share, implying a $1.32 annualized payout and a 4.6% yield. Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $34.
OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) EVP Matthew Siegel sold 25,000 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $27.84, for a total transaction of $696,000.00. Following the sale, the executive vice president directly owned 264,925 shares of the company's stock, valued at $7,375,512. The trade was a 8.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
OUTFRONT Media Stock Performance
NYSE:OUT opened at $28.62 on Friday. The company has a market cap of $5.04 billion, a P/E ratio of 20.59 and a beta of 1.53. OUTFRONT Media Inc. has a twelve month low of $16.97 and a twelve month high of $34.96. The company's 50-day moving average price is $29.64 and its 200-day moving average price is $30.39. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50.
OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.30. The company had revenue of $522.50 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. On average, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, September 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.6%. This is an increase from OUTFRONT Media's previous quarterly dividend of $0.30. OUTFRONT Media's payout ratio is presently 94.96%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL increased its position in shares of OUTFRONT Media by 0.7% during the first quarter. Gamco Investors INC. ET AL now owns 51,648 shares of the financial services provider's stock valued at $1,369,000 after acquiring an additional 351 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of OUTFRONT Media by 4.6% in the 2nd quarter. GAMMA Investing LLC now owns 10,048 shares of the financial services provider's stock worth $329,000 after acquiring an additional 440 shares during the last quarter. Convergence Investment Partners LLC boosted its position in shares of OUTFRONT Media by 0.7% during the 1st quarter. Convergence Investment Partners LLC now owns 78,004 shares of the financial services provider's stock worth $2,067,000 after purchasing an additional 537 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of OUTFRONT Media by 74.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider's stock worth $43,000 after purchasing an additional 686 shares during the period. Finally, Abel Hall LLC increased its holdings in OUTFRONT Media by 5.9% in the 1st quarter. Abel Hall LLC now owns 16,518 shares of the financial services provider's stock valued at $438,000 after purchasing an additional 926 shares during the last quarter.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on OUTFRONT Media from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Wall Street Zen lowered OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 26th. TD Cowen restated a "buy" rating and issued a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a report on Thursday, August 6th. Citigroup reaffirmed a "buy" rating on shares of OUTFRONT Media in a research note on Tuesday, September 8th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $38.00 price target on shares of OUTFRONT Media in a report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.00.
Get Our Latest Analysis on OUTFRONT Media
OUTFRONT Media Company Profile
(
Get Free Report)
OUTFRONT Media Inc is an out-of-home advertising company that provides brands and agencies with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, urban panels, street furniture, transit advertising, and other display formats designed to reach consumers in public spaces.
The company's advertising inventory is used across major metropolitan areas and transportation systems in the United States. OUTFRONT combines its media assets with audience measurement, data and analytics, creative services, and digital advertising capabilities to help advertisers plan, deliver, and evaluate campaigns.
OUTFRONT Media was formed from the former CBS Outdoor Americas business and adopted its current name in 2014 following its separation from CBS Corporation.
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