OUTFRONT Media Inc. (NYSE:OUT) to Issue Dividend Increase – $0.33 Per Share

OUTFRONT Media Inc. (NYSE:OUT) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Friday, September 4th will be given a dividend of 0.33 per share by the financial services provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, September 4th. This is a 10.0% increase from OUTFRONT Media’s previous quarterly dividend of $0.30.

OUTFRONT Media has increased its dividend payment by an average of 0.3%annually over the last three years. OUTFRONT Media has a dividend payout ratio of 141.2% 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 $2.15 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 55.8%.

OUTFRONT Media Stock Up 0.4%

OUT stock opened at $32.09 on Thursday. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50 day simple moving average is $32.10 and its 200-day simple moving average is $29.56. The firm has a market capitalization of $5.65 billion, a PE ratio of 30.57, a P/E/G ratio of 1.52 and a beta of 1.49. OUTFRONT Media has a 12 month low of $16.64 and a 12 month high of $34.96.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The business had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. During the same quarter last year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts expect that OUTFRONT Media will post 2.11 earnings per share for the current fiscal year.

Insider Transactions at OUTFRONT Media

In other news, EVP James Michael Norton purchased 4,130 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the transaction, the executive vice president owned 4,130 shares in the company, valued at $127,245.30. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total value of $160,400.00. Following the transaction, the executive vice president directly owned 56,947 shares in the company, valued at approximately $1,826,859.76. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $629,600. Company insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new position in shares of OUTFRONT Media in the 3rd quarter worth $29,000. EverSource Wealth Advisors LLC lifted its position in OUTFRONT Media by 74.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock worth $43,000 after buying an additional 686 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of OUTFRONT Media by 157.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,431 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of OUTFRONT Media during the fourth quarter worth $71,000. Finally, State of Wyoming raised its holdings in shares of OUTFRONT Media by 155.5% during the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 4,853 shares in the last quarter.

About OUTFRONT Media

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.