|Bid||19.65 x 900|
|Ask||19.67 x 1000|
|Day's Range||18.90 - 19.48|
|52 Week Range||7.07 - 31.20|
|Beta (5Y Monthly)||1.10|
|PE Ratio (TTM)||18.30|
|Earnings Date||Aug 03, 2020 - Aug 07, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar 05, 2020|
|1y Target Est||17.07|
OUTFRONT Media Inc. (NYSE: OUT) earned six awards during the 78th annual OBIE Awards on May 20 for billboard campaigns designed by its in-house creative team, OUTFRONT STUDIOS. Each year, The Out Of Home Advertising Association of America (OAAA) presents the OBIE Awards, which honors the finest in out of home advertising design. Ahead of this year's virtual award show, OUTFRONT STUDIOS had 16 finalists and, by the end of the event, received more wins than any other creative agency. The winning campaigns were chosen from several different categories, in various industry sectors including Automotive, Entertainment, and more. More than 50 creative agencies and brands across the country submitted their work, which were judged by seven prominent industry leaders.
Outfront Media (OUT) intends to use funds raised from its senior notes offering to reduce outstanding balances under the company's revolving credit line.
OUTFRONT Media Inc. (NYSE: OUT) today announced that two of its wholly-owned subsidiaries priced a private offering of $400.0 million in aggregate principal amount of 6.25% Senior Notes due 2025 (the "notes"). The notes are to be sold at an issue price of 100.0% of the principal amount. The offering is expected to close on May 15, 2020, subject to customary closing conditions.
Moody's Investors Service (Moody's) assigned a B2 rating to the proposed $400 million senior unsecured note due 2025 of OUTFRONT Media Capital LLC, a subsidiary of OUTFRONT Media Inc. (OUTFRONT). The B1 corporate family rating (CFR) of OUTFRONT, the Ba1 senior secured rating and the existing B2 senior unsecured notes rating issued by the subsidiary remains unchanged.
Moody's Investors Service (Moody's) downgraded OUTFRONT Media Inc.'s (OUTFRONT) corporate family rating (CFR) to B1 from Ba3 and the Probability of Default Rating (PDR) to B1-PD from Ba3-PD. In addition, Moody's downgraded the senior unsecured note rating issued by OUTFRONT's subsidiary to B2 from B1 and affirmed the senior secured debt rating at Ba1.
Outfront Media (OUT) registers growth in average revenue per display and revenues from digital-billboard conversions in Q1 but sees a fall in operating income.
Outfront Media (OUT) delivered FFO and revenue surprises of 15.17% and 2.89%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to present at the 48th Annual J.P. Morgan Global Technology, Media and Communications Conference on Wednesday, May 13, 2020 at 11:50 a.m. Eastern Time. A live and replay audio webcast will be available on the investor relations section of the Company's website at www.OUTFRONTmedia.com.
Weighing in on the markets from investment firm Oppenheimer, John Stoltzfus of Asset Management believes that now is the time to “build shopping lists of what you may have missed and regretted missing just a few weeks ago when the market was moving up every day.” He added that certain sectors – technology, industrials, financials, and consumer products – would face heavier pressure, and offer greater opportunities.Stoltzfus notes that Oppenheimer is making these moves, in preparation for a bull market that may lie in the near future. “It’s not a huge list, but it’s a shopping list of companies that we would like to add to positions that we already hold. Some of them [we] opened new positions. Things that might have gotten away.”“The market foresees that there’s a light at the end of the tunnel, and it’s not a railroad train about to bear down on this. It’s light of day instead,” Stoltzfus added.So, let’s take a look at some of the stock picks that Oppenheimer analysts are tagging for Stoltzfus’ shopping list. The TipRanks database allows us to find their similarities: they show impressive dividend yields above 11% and offer an upside potential of at least 30%. It’s a combination of factors that make them attractive as defensive portfolio moves in a bearish market.WhiteHorse Finance (WHF)We’ll start with a financial stock, one of the sectors that Stoltzfus tapped as particularly strong opportunity. WhiteHorse specializes in business development financing, in the small-cap company market. WHF focuses its investments in the $10 million to $50 million range, on companies with market caps between $50 and $350 million, stable cash flows, low tech exposure risk, and strong direct customer relationships. WHF provides loans and capital access.A look at WHF’s quarterly earnings history shows the success of the company’s model. WhiteHorse has been consistently profitable, and frequently beats the forecast by a wide margin. WhiteHorse uses its sound earnings to fund a reliable dividend. The company has a long history of maintaining reliable payments – in recent years, it has kept the payment at 35.5 cents per share quarterly, with one dip to 20 cents during 2019 to adjust for the payout ratio. The annualized payment is $1.42, which gives a simply stellar yield of 18.8%. The average dividend yield among S&P listed stocks is only 2% - WhiteHorse beats that by well over 9x.5-star Oppenheimer analyst Chris Kotowski saw fit to upgrade WhiteHorse from Neutral to Buy in his recent review of the stock, after the bear market slide had started. He noted that the company has largely avoided tapping into its own credit facilities, and that the combination of low leverage and a strong portfolio makes WHF a fine investment with solid return potential. He writes, “We view WHF as a high-quality BDC that has been able to generate assets with above-industry average yields but thus far minimal realized losses… the BDC has covered the base dividend out of core NII on a cumulative basis since 2015 and following recent portfolio growth trends, we see continued dividend coverage in coming quarters.”Kotowski sets a $13 price target on the stock, indicating his confidence in an impressive 72% upside potential (To watch Kotowski’s track record, click here)It appears consensus sentiment matches well with Kotowski's eager chip eyes, with TipRanks analytics showing WHF as a Buy. Based on 6 analysts polled by TipRanks in the last 3 months, 4 rate the stock a Buy, while 2 remain sidelined. The 12-month average price target stands at $12.90, marking a whopping 70% upside from where the stock is currently trading. (See WhiteHorse stock analysis on TipRanks)Monroe Capital (MRCC)The next stock on our list, Monroe Capital, is private equity firm that invests in the tech, health care, media, and retail sectors. The company focuses on businesses with employee stock ownership plans, as well as women and/or minority ownership; these are demographics that sometimes have difficulty accessing capital, and Monroe aims to fill that gap.That the business model works is clear from MRCC’s own financial footing. The company consistently reports profitable earnings; the most recent report, in Q4, was typical, with the 37 cents reported beating the 35-cent forecast. Revenue rose 21% year-over-year to reach $17.99 million. These results are in-line with forward guidance – the consensus on Monroe’s prospects this year is for $17.5 million in Q1 revenue with quarterly EPS of 35 cents, and $71.2 million in full-year revenue, and $1.40 EPS for CY2020.For stock investors, however, Monroe’s primary vehicle of returns is the dividend. The company pays out reliably, and earnings have covered the payment since 2H14. At 94%, the payout ratio is high – nearly maxed out – but also shows that the dividend is affordable with current earnings. The actual payment is 35 cents per quarter, or $1.40 annually, and gives a yield of 19.7%. Yields of this magnitude are among the best returns that investors are likely to find; now that the Fed has but interest rates to the bone in response to the COVID-19 pandemic, Treasury bonds are yielding less than 1%.Oppenheimer's Chris Kotowski reviewed this stock, too, and came away impressed. In fact, in the very title of his note he cites Monroe’s 23 consecutive quarters of dividend coverage. In line with his upbeat view of the stock, Kotowski reiterates his Buy rating and sets a $10 price target that suggests a 42% upside potential. (To watch Kotowski’s track record, click here)Getting to specifics, Kotowski writes, “As we have said many times, over time the dividend accounts for the vast majority of a BDC's returns. Given MRCC's depressed stock price at 88% of NAV, the dividend amounts to a [19%] yield, outstanding given that we have a high degree of confidence that it will be maintained.”Overall, the analyst consensus rating on this stock is a Moderate Buy, and is based on 1 Buy rating and 2 Holds. Wall Street gives the stock an average price target of $9.33, for an upside potential of 33% in the coming year. (See Monroe Capital stock analysis on TipRanks)Outfront Media, Inc (OUT)Last on our list is a company with an interesting niche. Outfront Media specializes in billboard marketing and transit and advertisement posters. Even in today’s digital age, billboards and posters, strategically located, remain an important part of major marketing campaigns, while electronic and digital tech can update these traditional forms of marketing. Outfront operates as an REIT, owning the advertising properties and leasing them to the advertisers.The economic reversal of the first quarter has hit Outfront hard. With so many areas under lockdown, travel and business restricted, and many businesses unable to operation normally, outdoor advertising has been one of the first expenses to feel the axe. Outfront’s stock dropped over 50% by mid-March, badly underperforming the overall stock market. Since bottoming out on March 20, the stock has bounced back 66%.That rebound shows the company’s underlying resilience. OUT consistently beats its quarterly earnings expectations, and 2019 revenue reached $1.8 billion, growing 11% from the year before. While this first quarter was flat-out bad, the stock market’s bounce, the prospect of an effective treatment for COVID-19, and the beginning of discussions on how to reopen the economy all bode well for OUT in 2H20.Even with the difficult quarter now, Outfront Media has maintained its generous dividend. The yield comes in at 12.8%, and the annualized payout lands at $1.52.Ian Zaffino, covering OUT for Oppenheimer, noted, “Overall, OUT could see meaningful headwinds from the outbreak and a speedbump in its transit and digital initiatives. However, management is taking actions to reduce fixed costs and mitigate the impact to profitability. Further, the company maintains solid liquidity—e.g. ~$534M of cash-on-hand—and has cushion against its covenants. Additionally, the nearest debt maturity isn’t until 2024 ($500M senior notes)."In line with his cautiously positive outlook, Zaffino maintains the Buy rating on OUT shares. Even while lowering the price target in deference to the pandemic, Zaffino's new target, $20 per share, suggests a strong 68% upside potential. (To watch Zaffino’s track record, click here)The analyst consensus here agrees with Zaffino; Outfront gets a Moderate Buy rating, based on 4 Buys and 2 Holds set in recent weeks. Shares are priced at $11.93 after the recent growth noted by Zaffino, while the $20.83 average price target suggests a robust upside potential of 75%. (See Outfront Media stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
OUTFRONT Media Inc. (NYSE: OUT) today announced that it, along with certain subsidiaries, entered into an amendment to the credit agreement governing its $500.0 million revolving credit facility due November 2024.
OUTFRONT Media Inc. (NYSE: OUT) today announced that affiliates of Providence Equity Partners LLC ("Providence") have agreed to lead the purchase of $400 million in newly issued convertible preferred stock together with funds managed by Ares Management Corporation ("Ares").
OUTFRONT Media Inc. (NYSE: OUT) announced today that it will report results for the quarter ended March 31, 2020 before the market opens on Friday, May 8, 2020. The earnings announcement will be available in the Investor Relations section of the Company's website, www.OUTFRONTmedia.com.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
OUTFRONT Media Inc. (NYSE: OUT) today announced business and financial updates in response to the novel coronavirus (COVID-19) pandemic.
Investment bank JPMorgan has cast a careful eye on current market conditions, and lays out the likely scenarios for investors to consider. According to the firm’s analyst team, the spreading COVID -19 epidemic will likely continue to disrupt markets, mainly through increased volatility this year. In the short term, JPM sees the US Federal Reserve’s 50 basis point rate cut as a net positive, mainly because it increases the relative upside for equity assets.In JPM’s view, investors should understand that governments will provide policy support in the first half of this year to mitigate virus-related losses, while the global epidemic will probably not cause a sustained drop in business sentimentFor now, JPM’s Global Equity strategists see the current market as oversold, but believe that disease-related economic slowdown will continue to pressure stocks. They see a bounce as likely, given low prices and the likelihood that investors will use any sign of strength to buy in. With rates cut back again, and the Fed considering further cuts, equities will remain the asset with the highest potential upside despite their risk. Investors should look for them to continue outperforming bonds going forward.Now could be the right time to buy into dividend stocks. These defensive plays will provide the regular income needed to support portfolios against the market’s gyrations. With all of that in mind, we’ve used TipRanks’ Stock Screener to pull high-yield dividend stocks from the database. All three are Buy-rated, show 15% or better upside, and a dividend yield above 6%. And, all three are recommended by JPMorgan’s analysts. Let's take a closer look.Outfront Media, Inc. (OUT)We’ll start with a marketing company, specializing in outdoor media – billboard and transit ads. While these media may seem outdated, they remain an important part of traditional marketing – and have the power to reach a huge audience. The company is also diversifying into outdoor digital billboards. Outfront boasts over 500,000 displays, bringing in well over $1.7 billion in annual revenues.The company reported strong growth in Q4 2019, with the quarterly revenue growing 7.8% to reach $488.1 million. EPS came in at 31 cents per share. The company used its positive quarterly results to announce an increase in its cash dividend, of 2 cents, to 38 cents per share. The increased dividend will be paid out at the end of March, and annualizes to $1.52. With a yield of 7.32%, OUT’s return is far higher than Treasury bonds, and more than triple the average dividend rate among S&P-listed companies. The payout ratio is 52%, indicating that the payment is easily sustainable.Writing for JPM, 4-star analyst Alexia Quadrani says of Outdoor Media, “We like Outfront's longer term growth story with increasing digital billboard conversions and industry-leading technology initiatives, and we view the deployment of the new NYC MTA transit screens and increasing revenue contribution positively. Shares trade at a discount... We are encouraged by the sustained momentum in results and healthy returns…”Quadrani’s Buy rating represents an upgrade from Neutral, and is supported by a $36 price target implying a 80% upside. (To watch Quadrani’s track record, click here)Overall, Outfront’s analyst consensus rating is a unanimous Strong Buy, based on 5 Buy-side reviews. The average price target of $35.80 suggests room for 63% growth from the current share price of $21.90. (See Outfront stock analysis on TipRanks)Ternium SA (TX)With our next stock, we head into heavy industry. Ternium is a steel producer, with manufacturing facilities located in the southern US, Central America, Mexico, Argentina, Brazil, and Colombia. The company is a long and flat steel producer, and its products are offered for customers in the automotive, construction, HVAC, and home appliance industries. It’s Latin America’s leading steel company, and has a production capacity exceeding 12 million tons annually.Ternium’s Q4 report showed revenue declines, both sequentially and year-over-year. The quarterly top line came in at $2.9 billion, down 5% yoy, while the FY revenues of $12.5 bill were down 3% from 2018. Quarterly EPS beat the forecast at 34 cents, but also marked the fifth consecutive quarter of sequential declines.Despite the falloff in revenue and earnings, TX has maintained – and increased – its dividend payment since 2008. The current dividend is $1.20, paid out annually. This gives a yield of 8.5%, an impressive return by any standard. The payout ratio is high, at 88%, and shows a company commitment to sharing profits with investors.TX is the second stock on this list to receive an upgrade from JPMorgan. Analyst Rodolfo Angele bumped the stock from Neutral to Buy, and set a price target of $25, indicating confidence in a 93% upside. (To watch Angele’s track record, click here)Angele writes of this stock, “Looking forward, Ternium should benefit from a combination of increased volumes and improved pricing environment in both Mexico and Brazil… We see Ternium as a low leverage player with solid balance sheet and positive FCF generation. We believe 4Q19 marked the bottom of negative earnings momentum and expect margins to improve into 2020.”The analyst consensus view on TX is a Moderate Buy, based on 2 Buys and 1 Sell. The stock sells for a discounted $14.07, and the average price target matches Angele’s: $25. The upside potential here is substantial, at 91%. (See Ternium stock analysis on TipRanks)TCG BDC, Inc. (CGBD)Last on today’s list is a specialty finance company. TCG BDC provides flexible financing solutions for mid-sized companies in the US, focusing on investment opportunities with defensive niche strategies and leading positions in their markets. CGBD’s asset portfolio is highly diversified, but does show a bias toward technology: 21% of its investments are in software or high tech, and another 5% in telecom. The overwhelming majority CGBD’s investments are in senior secured loans.CGBD’s investment strategy has worked well for the company. In Q4, earnings beat the forecast by 2.3%, and came in at 44 cents per share. The earnings were more than enough to support the company’s 37-cent quarterly dividend. The payout ratio is 84%, high, but with sufficient slack to ensure that the company can afford the payment going forward. At an annualized $1.48, the dividend yields a whopping 12.6%. TCG BDC has a long history of adjusting dividend payments to ensure sustainability.5-star analyst Richard Shane writes of this company, “CGBD sees signs of economic stabilization: lower risk from trade tensions and earnings growth at portfolio companies. The team expects COVID-19 will postpone, but not preclude, continued macro strength and they expect minimal portfolio impact, given the team’s focus on non-cyclical, domestic-demand driven companies… The portfolio is well positioned for rising rates, with ~99% of portfolio investments bearing floating interest rates.”Shane gives CGBD a $14 price target to support his Buy rating. His target suggests room for 23% upside growth. (To watch Shane’s track record, click here)Overall, CGBD get a Moderate Buy consensus rating, based on 2 Buys and 1 Sell. The stock sells for a low price, $11.35, and the average price target matches Shane’s at $14. (See CGBD stock analysis at TipRanks)