Zacks Research Predicts Stronger Earnings for OUTFRONT Media

OUTFRONT Media Inc. (NYSE:OUT) – Analysts at Zacks Research raised 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 expects that the financial services provider will post earnings of $1.56 per share for the year, up from their prior forecast 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.

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

Several other research analysts have also commented on the company. StockNews.com lowered OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Barrington Research reiterated an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a report on Wednesday, November 13th. Wells Fargo & Company started coverage on OUTFRONT Media in a report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price target on the stock. Finally, Wolfe Research downgraded OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.25.

OUTFRONT Media Stock Performance

Shares of NYSE:OUT opened at $18.95 on Friday. The firm has a fifty day simple moving average of $18.54 and a two-hundred day simple moving average of $16.53. OUTFRONT Media has a 52 week low of $12.13 and a 52 week high of $19.50. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00. The stock has a market capitalization of $3.15 billion, a P/E ratio of 13.83, a PEG ratio of 1.22 and a beta of 1.96.

Institutional Trading of OUTFRONT Media

Several institutional investors and hedge funds have recently made changes to their positions in OUT. Franklin Resources Inc. grew its holdings in shares of OUTFRONT Media by 653.3% in the third quarter. Franklin Resources Inc. now owns 229,872 shares of the financial services provider’s stock worth $4,260,000 after purchasing an additional 199,356 shares during the last quarter. Sanctuary Advisors LLC bought a new position in OUTFRONT Media in the 3rd quarter worth about $318,000. Vestcor Inc increased its position in shares of OUTFRONT Media by 846.4% during the third quarter. Vestcor Inc now owns 113,572 shares of the financial services provider’s stock worth $2,087,000 after acquiring an additional 101,572 shares during the period. M&T Bank Corp bought a new stake in shares of OUTFRONT Media during the third quarter valued at approximately $204,000. Finally, Barclays PLC boosted its holdings in shares of OUTFRONT Media by 43.0% in the third quarter. Barclays PLC now owns 501,439 shares of the financial services provider’s stock valued at $9,218,000 after purchasing an additional 150,669 shares during the period.

OUTFRONT Media Cuts Dividend

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

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.