OUTFRONT Media Inc. Plans Quarterly Dividend of $0.30 (NYSE:OUT)

OUTFRONT Media Inc. (NYSE:OUT) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Investors of record on Friday, September 6th will be given a dividend of 0.30 per share by the financial services provider on Friday, September 27th. This represents a $1.20 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend is Friday, September 6th.

OUTFRONT Media has raised its dividend by an average of 46.7% annually over the last three years. OUTFRONT Media has a payout ratio of 151.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect OUTFRONT Media to earn $1.62 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 74.1%.

OUTFRONT Media Trading Up 6.3 %

OUT stock traded up $0.89 during trading on Wednesday, reaching $14.97. The company had a trading volume of 2,127,673 shares, compared to its average volume of 1,813,352. OUTFRONT Media has a 52 week low of $8.18 and a 52 week high of $17.02. The company has a market cap of $2.48 billion, a P/E ratio of -5.82, a PEG ratio of 1.02 and a beta of 1.92. The business has a 50 day moving average of $14.60 and a 200 day moving average of $14.79. The company has a debt-to-equity ratio of 5.08, a current ratio of 0.58 and a quick ratio of 0.58.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.60. OUTFRONT Media had a negative net margin of 23.38% and a negative return on equity of 72.77%. The company had revenue of $477.30 million during the quarter, compared to the consensus estimate of $482.27 million. During the same period in the prior year, the firm earned $0.47 earnings per share. OUTFRONT Media’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that OUTFRONT Media will post 1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OUT has been the subject of a number of analyst reports. TD Cowen initiated coverage on shares of OUTFRONT Media in a research note on Tuesday, July 16th. They set a “hold” rating and a $16.00 target price for the company. Barrington Research reaffirmed an “outperform” rating and set a $17.00 target price on shares of OUTFRONT Media in a research note on Monday, July 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, OUTFRONT Media has a consensus rating of “Hold” and a consensus price target of $16.20.

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.