OUTFRONT Media Inc. (NYSE:OUT) Announces Special Dividend of $0.75

OUTFRONT Media Inc. (NYSE:OUT) declared a special dividend on Tuesday, November 12th,RTT News reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.75 per share by the financial services provider on Tuesday, December 31st. The ex-dividend date is Friday, November 15th.

OUTFRONT Media has increased its dividend payment by an average of 46.7% per year over the last three years. OUTFRONT Media has a payout ratio of 144.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect OUTFRONT Media to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 73.2%.

OUTFRONT Media Price Performance

OUTFRONT Media stock traded up $0.49 during trading hours on Wednesday, hitting $18.82. 102,347 shares of the company traded hands, compared to its average volume of 1,753,115. The firm has a market cap of $3.12 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.18 and a beta of 1.94. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.71. The firm’s 50-day simple moving average is $18.01 and its two-hundred day simple moving average is $16.08. OUTFRONT Media has a 1-year low of $11.59 and a 1-year high of $19.33.

OUTFRONT Media (NYSE:OUT) last released its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.20). The company had revenue of $451.90 million for the quarter, compared to analyst estimates of $456.38 million. OUTFRONT Media had a net margin of 12.32% and a return on equity of 37.83%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. As a group, analysts forecast that OUTFRONT Media will post 1.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on OUT shares. Wolfe Research cut shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen assumed coverage on shares of OUTFRONT Media in a research report on Tuesday, July 16th. They issued a “hold” rating and a $16.00 target price on the stock. StockNews.com downgraded shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company assumed coverage on shares of OUTFRONT Media in a research report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.50.

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.