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

OUTFRONT Media Inc. (NYSE:OUT) declared a special dividend on Tuesday, November 12th,RTT News reports. Stockholders 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 raised its dividend by an average of 46.7% annually 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. 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 Stock Up 3.5 %

Shares of OUT stock traded up $0.65 during mid-day trading on Wednesday, hitting $18.98. The company’s stock had a trading volume of 350,822 shares, compared to its average volume of 1,754,244. OUTFRONT Media has a 52-week low of $11.59 and a 52-week high of $19.33. The business has a 50-day moving average price of $18.01 and a 200 day moving average price of $16.08. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.18 and a beta of 1.94.

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 business had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. Research analysts predict that OUTFRONT Media will post 1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on OUT shares. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wolfe Research lowered OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 24th. TD Cowen began coverage on OUTFRONT Media in a report on Tuesday, July 16th. They set a “hold” rating and a $16.00 price target for the company. Barrington Research boosted their price target on OUTFRONT Media from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Company began coverage on OUTFRONT Media in a report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, OUTFRONT Media has an average rating of “Hold” and an average price target 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.