OUTFRONT Media
Sells static and digital advertising across U.S. billboards and municipal transit systems.
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Profile
Sells static and digital advertising across roadside billboards and municipal transit systems in major U.S. markets, supported by creative, production, measurement, and programmatic services. Billboard supplies most revenue; Transit relies on fixed-term government contracts and is concentrated in New York.
Operates as a REIT that leases advertising space on static and digital roadside billboards and transit displays across major U.S. metropolitan markets. Billboard supplies most revenue, while Transit operates under exclusive multi-year agreements with municipalities and other governmental entities. The portfolio is entirely domestic following the Canadian sale, with New York the largest revenue market and Los Angeles another important market.
Combines scarce permitted roadside locations with market-level pricing, enterprise and local sales, creative and production services, consumer research, campaign measurement, and programmatic tools. Digital screens support multiple campaigns per display and remain a focus of portfolio investment. Billboard economics depend on site leases, permits, and advertising demand; transit economics depend on fixed-term franchise renewals, revenue-sharing or guaranteed payments, commuting patterns, and municipal content rules.
Company facts
Categories
Key statistics
Year to date +24.9% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 12, 2026 | Barrington | Target | $38 | |||
| May 8, 2026 | Morgan Stanley | Target | $35 | $37 | ||
| May 7, 2026 | Morgan Stanley | Target | $28 | $35 | ||
| Dec 18, 2025 | Wells Fargo | Reiterate | Overweight | $27 | ||
| Dec 16, 2025 | Morgan Stanley | Upgrade | Equal Weight | Overweight | $28 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.38 | $0.44 | +16.1% | $509.6M | $522.5M | +2.5% | −2.69% |
| May 7, 2026Q1 FY26 | $0.28 | $0.11 | −60.7% | $431.4M | $429.6M | −0.4% | +3.32% |
| Feb 25, 2026Q4 FY25 | $0.71 | $0.73 | +2.8% | $512.1M | $513.3M | +0.2% | +6.18% |
| Nov 6, 2025Q3 FY25 | $0.50 | $0.57 | +14.0% | $511.6M | $467.5M | −8.6% | +14.42% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $390.7M | $460.2M | $467.5M | $513.3M | $429.6M | $522.5M | |
| Gross profit | $88.0M | $146.7M | $236.8M | $195.7M | $126.3M | $116.1M | |
| Operating income | $14.0M | $77.1M | $89.9M | $125.8M | $56.9M | $116.1M | |
| Net income | −$20.6M | $19.5M | $51.3M | $96.8M | $19.1M | $77.5M | |
| Diluted EPS | −$0.14 | $0.10 | $0.30 | $0.56 | $0.11 | $0.44 | |
| Gross margin | 22.5% | 31.9% | 50.7% | 38.1% | 29.4% | 22.2% | |
| Operating margin | 3.6% | 16.8% | 19.2% | 24.5% | 13.2% | 22.2% |
Fiscal years (4-quarter sums)FY21 $1.46B · FY22 $1.77B · FY23 $1.82B · FY24 $1.83B · FY25 $1.83B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $31.2M · Total debt $4.13B · Total assets $5.27B · Shareholders' equity $693.3M
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 5, 2026 | Jun 5 | Jun 30 | $0.30 | |
| Mar 6, 2026 | Mar 6 | Mar 31 | $0.30 | |
| Dec 5, 2025 | Dec 5 | Dec 31 | $0.30 | |
| Sep 5, 2025 | Sep 5 | Sep 30 | $0.30 | |
| Jun 6, 2025 | Jun 6 | Jun 30 | $0.30 | |
| Mar 7, 2025 | Mar 7 | Mar 31 | $0.30 | cut from $0.3074 split-adjusted |
| Nov 15, 2024 | Nov 15 | Dec 31 | $0.75 | special dividend |
| Sep 6, 2024 | Sep 6 | Sep 27 | $0.30 | raised from $0.30 split-adjusted |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 176.06M · Float 169.51M · 96.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 26.33M | 14.95% | 13F | Aug 7, 2026 |
| Cohen & Steers, Inc. | 21.64M | 12.29% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 17.60M | 9.99% | 13F | Aug 13, 2026 |
| FMR LLC | 12.48M | 7.09% | 13F | Aug 13, 2026 |
| Pep Viii GP LLC · 10 percent owner | 8.91M | 5.06% | Form 4 | Sep 5, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Patrick Martin | officer: SVP, Controller, CAO | −10,000 | $30.10 |
| Jun 24, 2026 | Richard H. Sauer | officer: EVP, General Counsel | −5,000 | $32.08 |
| Jun 23, 2026 | Richard H. Sauer | officer: EVP, General Counsel | −5,000 | $31.54 |
| Jun 22, 2026 | Richard H. Sauer | officer: EVP, General Counsel | −5,000 | $31.13 |
| Jun 18, 2026 | Richard H. Sauer | officer: EVP, General Counsel | −5,000 | $31.05 |
Peers
- Lamar Advertising
Direct U.S. billboard and digital-billboard peer
- Clear Channel Outdoor
U.S. roadside, airport, and digital OOH rival
- Diversified Energy
Global street-furniture, transport, and billboard operator
- The Trade Desk
Programmatic ad platform pulling budgets from OOH
- Sunlands Technology Group (ADR)
European OOH and programmatic DOOH benchmark
- National CineMedia
Cinema-ad network competing for place-based video budgets
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| OUTFRONT Media | $29.60 | −0.03% | $5.21B | 21.0 | 21.7 | 2.7 | +13.5% |
| Lamar Advertising | $150.38 | +0.02% | $15.26B | 27.4 | 24.7 | 6.6 | +6.5% |
| Clear Channel Outdoor | $2.34 | −0.21% | $1.19B | — | — | 0.7 | +8.8% |
| Diversified Energy | $14.75 | −0.07% | $1.07B | 1.7 | — | 0.6 | — |
| The Trade Desk | $13.60 | +0.18% | $6.38B | 16.0 | 123.2 | 2.1 | +3.0% |
| Sunlands Technology Group (ADR) | $2.92 | +0.69% | $39.2M | 0.8 | — | 0.1 | −20.6% |
| National CineMedia | $2.57 | −0.39% | $243.8M | — | 77.4 | 1.0 | +12.7% |
| Median | 8.8 | 77.4 | 0.8 | +6.5% |