OUTFRONT Media Inc. (NYSE:OUT) Shareholders Set to Receive $0.33 Quarterly Dividend

OUTFRONT Media Inc. (NYSE:OUT) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Friday, December 4th will be given a dividend of $0.33 per share by the financial services provider on Thursday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, December 4th.

OUTFRONT Media has raised its dividend by an average of 0.3% per year over the last three years. OUTFRONT Media has a payout ratio of 155.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect OUTFRONT Media to earn $2.24 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 58.9%.

OUTFRONT Media Stock Performance

Shares of OUTFRONT Media stock opened at $32.09 on Friday. The firm has a market cap of $5.65 billion, a PE ratio of 23.09 and a beta of 1.56. The firm’s 50-day simple moving average is $29.66 and its 200-day simple moving average is $29.67. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.67 and a current ratio of 0.67. OUTFRONT Media has a 1 year low of $17.40 and a 1 year high of $34.96.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, November 5th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $511.10 million for the quarter, compared to the consensus estimate of $509.74 million. OUTFRONT Media had a return on equity of 37.44% and a net margin of 12.66%. Equities analysts forecast that OUTFRONT Media will post 2.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OUT has been the topic of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of OUTFRONT Media in a report on Tuesday, September 8th. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. TD Cowen reiterated a “buy” rating and issued a $40.00 price target (up from $38.00) on shares of OUTFRONT Media in a report on Thursday, August 6th. JPMorgan Chase & Co. assumed coverage on OUTFRONT Media in a research report on Wednesday, July 22nd. They set an “overweight” rating and a $38.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, OUTFRONT Media presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

About OUTFRONT Media

OUTFRONT Media Inc (NYSE: OUT) is an out-of-home media company that provides advertising services through a portfolio of billboard, transit and other outdoor advertising assets. The company helps advertisers reach consumers in high-traffic locations, including roads, urban centers, public transportation systems and other public spaces.

Its offerings include traditional printed billboards, digital billboards, transit displays and place-based media. OUTFRONT also provides related services such as media planning, creative support, audience analytics and technology-enabled advertising solutions, including digital and programmatic buying capabilities.

OUTFRONT primarily serves advertisers across the United States and Canada.