OUTFRONT Media (NYSE:OUT) Shares Gap Down Following Weak Earnings

OUTFRONT Media Inc. (NYSE:OUT)’s share price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $15.39, but opened at $14.50. OUTFRONT Media shares last traded at $14.85, with a volume of 198,826 shares trading hands.

The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $390.70 million for the quarter, compared to analysts’ expectations of $396.17 million. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, June 6th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.20 annualized dividend and a yield of 8.02%. OUTFRONT Media’s dividend payout ratio is presently 81.63%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OUT. Wells Fargo & Company reduced their price target on shares of OUTFRONT Media from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley decreased their target price on OUTFRONT Media from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Finally, Barrington Research reissued an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.97.

Institutional Investors Weigh In On OUTFRONT Media

A number of hedge funds and other institutional investors have recently modified their holdings of OUT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of OUTFRONT Media by 1.9% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,005 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 558 shares during the period. Nissay Asset Management Corp Japan ADV lifted its stake in OUTFRONT Media by 5.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,237 shares of the financial services provider’s stock valued at $199,000 after buying an additional 596 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of OUTFRONT Media by 19.3% in the fourth quarter. GAMMA Investing LLC now owns 3,796 shares of the financial services provider’s stock worth $67,000 after buying an additional 613 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of OUTFRONT Media by 4.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 15,993 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 629 shares in the last quarter. Finally, Moody National Bank Trust Division raised its holdings in shares of OUTFRONT Media by 4.0% during the fourth quarter. Moody National Bank Trust Division now owns 18,028 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 698 shares during the period.

OUTFRONT Media Trading Down 2.8 %

The company’s 50-day moving average is $15.53 and its 200 day moving average is $17.61. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 4.00. The firm has a market cap of $2.50 billion, a PE ratio of 10.66, a P/E/G ratio of 1.06 and a beta of 1.84.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.