Analysts Set Expectations for OUTFRONT Media FY2024 Earnings

OUTFRONT Media Inc. (NYSE:OUT) – Investment analysts at Zacks Research increased their FY2024 earnings estimates for shares of OUTFRONT Media in a research report issued to clients and investors 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 previous estimate 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 posted 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). The firm had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS.

OUT has been the subject of several other research reports. Wells Fargo & Company started coverage on shares of OUTFRONT Media in a research note on Thursday, September 19th. They issued an “overweight” rating and a $22.00 target price for the company. Wolfe Research downgraded shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Barrington Research reissued an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research note on Wednesday, November 13th. Four 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, OUTFRONT Media has an average rating of “Hold” and an average price target of $19.25.

OUTFRONT Media Trading Up 0.2 %

Shares of OUTFRONT Media stock opened at $18.95 on Friday. The stock has a 50 day moving average of $18.54 and a 200 day moving average of $16.54. OUTFRONT Media has a fifty-two week low of $12.13 and a fifty-two week high of $19.50. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.22 and a beta of 1.96.

Hedge Funds Weigh In On OUTFRONT Media

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP raised its position in OUTFRONT Media by 258.8% during the second quarter. Quarry LP now owns 1,837 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,325 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of OUTFRONT Media during the 2nd quarter worth approximately $28,000. Harbor Capital Advisors Inc. purchased a new stake in OUTFRONT Media in the 3rd quarter valued at approximately $32,000. Virtus Fund Advisers LLC acquired a new stake in OUTFRONT Media during the 3rd quarter valued at $49,000. Finally, Quest Partners LLC increased its position in OUTFRONT Media by 30.0% during the second quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock worth $62,000 after buying an additional 994 shares in the last quarter.

OUTFRONT Media Cuts Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 15th will be issued a $0.75 dividend. The ex-dividend date is Friday, November 15th. OUTFRONT Media’s dividend payout ratio (DPR) is presently 87.59%.

About OUTFRONT Media

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.