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

OUTFRONT Media Inc. (NYSE:OUT) declared a special dividend on Tuesday, November 12th,RTT News reports. Investors of record on Friday, November 15th will be paid a dividend of 0.75 per share by the financial services provider on Tuesday, December 31st. The ex-dividend date of this dividend 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 142.9% 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 $1.64 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 0.4 %

OUT traded up $0.08 on Thursday, reaching $18.78. The company’s stock had a trading volume of 130,386 shares, compared to its average volume of 1,758,521. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.94. OUTFRONT Media has a 1 year low of $11.98 and a 1 year high of $19.33. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.67. The business’s 50 day moving average is $18.04 and its 200 day moving average is $16.10.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The business had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts forecast that OUTFRONT Media will post 1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented 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. Wolfe Research downgraded OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 24th. Wells Fargo & Company initiated coverage on OUTFRONT Media in a research report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price target on the stock. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Barrington Research reiterated an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.25.

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.