We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Outfront Media (OUT - Free Report) came out with quarterly funds from operations (FFO) of $0.14 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.05 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this billboard, transit and digital display advertising company would post FFO of $0.64 per share when it actually produced FFO of $0.62, delivering a surprise of -3.13%.
Over the last four quarters, the company has surpassed consensus FFO estimates just once.
Outfront Media, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $408.5 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 0.07%. This compares to year-ago revenues of $395.8 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Outfront Media shares have added about 16.7% since the beginning of the year versus the S&P 500's gain of 5.2%.
What's Next for Outfront Media?
While Outfront Media has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Outfront Media: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $0.48 on $487.08 million in revenues for the coming quarter and $1.69 on $1.86 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Healthcare Realty Trust (HR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2024. The results are expected to be released on May 7.
This medical office building real estate investment trust is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of -5%. The consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level.
Healthcare Realty Trust's revenues are expected to be $331.43 million, down 0.5% from the year-ago quarter.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Outfront Media (OUT) Q1 FFO Match Estimates
Outfront Media (OUT - Free Report) came out with quarterly funds from operations (FFO) of $0.14 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.05 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this billboard, transit and digital display advertising company would post FFO of $0.64 per share when it actually produced FFO of $0.62, delivering a surprise of -3.13%.
Over the last four quarters, the company has surpassed consensus FFO estimates just once.
Outfront Media
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Outfront Media shares have added about 16.7% since the beginning of the year versus the S&P 500's gain of 5.2%.
What's Next for Outfront Media?
While Outfront Media has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Outfront Media: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $0.48 on $487.08 million in revenues for the coming quarter and $1.69 on $1.86 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Healthcare Realty Trust (HR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2024. The results are expected to be released on May 7.
This medical office building real estate investment trust is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of -5%. The consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level.
Healthcare Realty Trust's revenues are expected to be $331.43 million, down 0.5% from the year-ago quarter.