Outfront Media Inc. (REIT) (NYSE:OUT) Expected to Announce Quarterly Sales of $444.74 Million

Equities research analysts expect Outfront Media Inc. (REIT) (NYSE:OUT) to post sales of $444.74 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Outfront Media’s earnings. The highest sales estimate is $444.80 million and the lowest is $444.70 million. Outfront Media posted sales of $335.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.4%. The firm is scheduled to announce its next earnings report on Thursday, February 24th.

On average, analysts expect that Outfront Media will report full year sales of $1.44 billion for the current year. For the next financial year, analysts anticipate that the business will report sales of $1.69 billion, with estimates ranging from $1.67 billion to $1.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Outfront Media.

Outfront Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, November 4th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.12). Outfront Media had a negative return on equity of 3.30% and a negative net margin of 2.34%. During the same period in the previous year, the business earned $0.19 earnings per share.

A number of analysts recently weighed in on OUT shares. Citigroup increased their price objective on shares of Outfront Media from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 12th. Zacks Investment Research downgraded shares of Outfront Media from a “strong-buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a research note on Tuesday, January 4th. Finally, Morgan Stanley lowered their target price on shares of Outfront Media from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $28.67.

Shares of OUT traded down $0.19 during midday trading on Friday, hitting $25.47. 629,587 shares of the company traded hands, compared to its average volume of 832,549. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.68 and a current ratio of 1.68. Outfront Media has a 52 week low of $16.99 and a 52 week high of $28.99. The firm has a 50 day moving average of $26.22 and a 200-day moving average of $25.14. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -62.12 and a beta of 1.77.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Friday, December 3rd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, December 2nd. Outfront Media’s dividend payout ratio is presently -97.56%.

Institutional investors have recently modified their holdings of the company. Balyasny Asset Management LLC lifted its stake in shares of Outfront Media by 41.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,350,469 shares of the financial services provider’s stock worth $32,452,000 after acquiring an additional 396,307 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Outfront Media by 26.3% in the second quarter. Bank of New York Mellon Corp now owns 731,325 shares of the financial services provider’s stock worth $17,574,000 after acquiring an additional 152,478 shares during the last quarter. Principal Financial Group Inc. lifted its position in Outfront Media by 80.8% during the second quarter. Principal Financial Group Inc. now owns 18,086 shares of the financial services provider’s stock valued at $435,000 after buying an additional 8,082 shares in the last quarter. Amalgamated Bank lifted its position in Outfront Media by 30.9% during the second quarter. Amalgamated Bank now owns 21,845 shares of the financial services provider’s stock valued at $525,000 after buying an additional 5,152 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Outfront Media during the second quarter valued at approximately $27,259,000. Institutional investors and hedge funds own 97.69% of the company’s stock.

Outfront Media Company Profile

OUTFRONT Media, Inc engages in the provision of leasing services of advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways and roadways; and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.

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