Outfront Media (NYSE:OUT) Stock Price Down 5.2% on Disappointing Earnings

Outfront Media Inc (NYSE:OUT) dropped 5.2% on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $24.41 and last traded at $25.20, approximately 3,174,491 shares changed hands during trading. An increase of 212% from the average daily volume of 1,017,356 shares. The stock had previously closed at $26.58.

The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.35). Outfront Media had a return on equity of 14.27% and a net margin of 9.45%. The company had revenue of $462.50 million during the quarter, compared to analyst estimates of $461.97 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 5.71%. Outfront Media’s dividend payout ratio (DPR) is currently 66.98%.

Several analysts have recently weighed in on the stock. ValuEngine lowered shares of Outfront Media from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Barrington Research reiterated a “buy” rating and set a $29.00 target price on shares of Outfront Media in a research report on Tuesday. Imperial Capital lifted their target price on shares of Outfront Media from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Zacks Investment Research lowered shares of Outfront Media from a “buy” rating to a “sell” rating and set a $29.00 target price on the stock. in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $27.48.

Several institutional investors have recently modified their holdings of OUT. Huntington National Bank boosted its position in Outfront Media by 1,098.2% in the second quarter. Huntington National Bank now owns 1,342 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,230 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Outfront Media in the second quarter valued at about $41,000. Marshall Wace North America L.P. acquired a new position in Outfront Media in the first quarter valued at about $44,000. Redhawk Wealth Advisors Inc. acquired a new position in Outfront Media in the second quarter valued at about $45,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Outfront Media in the third quarter valued at about $61,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 3.06. The stock’s 50-day simple moving average is $27.31 and its 200 day simple moving average is $26.33.

Outfront Media Company Profile (NYSE:OUT)

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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.

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