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

OUTFRONT Media Inc. (NYSE:OUT) declared a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 8.00%. The ex-dividend date is Friday, September 6th.

OUTFRONT Media has increased its dividend by an average of 46.7% annually over the last three years. OUTFRONT Media has a dividend payout ratio of 151.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

OUTFRONT Media stock traded up $0.92 during trading hours on Wednesday, hitting $15.00. The stock had a trading volume of 2,127,787 shares, compared to its average volume of 1,813,353. The company has a 50-day moving average of $14.60 and a two-hundred day moving average of $14.79. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 5.08. The company has a market cap of $2.49 billion, a PE ratio of -5.82, a price-to-earnings-growth ratio of 1.02 and a beta of 1.92. OUTFRONT Media has a fifty-two week low of $8.18 and a fifty-two week high of $17.02.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.41 by $0.60. The firm had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $482.27 million. OUTFRONT Media had a negative return on equity of 72.77% and a negative net margin of 23.38%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, equities research analysts anticipate that OUTFRONT Media will post 1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OUT. JPMorgan Chase & Co. increased their target price on OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barrington Research reissued an “outperform” rating and issued a $17.00 target price on shares of OUTFRONT Media in a report on Monday, July 15th. Finally, TD Cowen began coverage on OUTFRONT Media in a report on Tuesday, July 16th. They issued a “hold” rating and a $16.00 target price for the company. 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 data from MarketBeat.com, OUTFRONT Media has an average rating of “Hold” and a consensus price target of $16.20.

OUTFRONT Media Company Profile

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.