Before the Move: Watch Outfront Media ahead of NYC-MTA contract decision

A decision regarding the advertising bid process is expected on Monday, September 25, when New York City's Metropolitan Transportation Authority board is scheduled to meet. During Outfront Media's (OUT) last earnings call, the company's CEO and chairman Jeremy Male pointed out that he believes the process was "nearing a conclusion." NYC-MTA BOARD MEETING: During Outfront Media's last earnings call on August 3, the company's chairman and CEO Jeremy Male said: "I'd like to update you on the New York City transit renewal. Based on public comments, the MTA expects to make an announcement regarding the outcome of the bid process at its September 25 board meeting. So the key takeaway is that the process is very active and now appears to be nearing a conclusion." FULL LOSS ALREADY BUILT IN: In a post-earnings research note, Loop Capital analyst David Miller argued that he believes a full loss of this contact is already built in to the stock, so the risk-reward quotient favors "reward" over "risk." The analyst also told investors that Outfront Media will never be the "perfect" Outdoor name, but it is not priced that way, and "really doesn't have to be," trading at a significant discount to Lamar (LAMR). Miller reiterated a Buy rating and $27 price target on Outfront Media's shares. OTHER ANALYSTS: According to Bloomberg data, of eight analysts who cover the stock and have updated their price target within the last three months, four have a Buy or equivalent rating on Outfront Media, while four have a Hold or equivalent rating. The average price target on the stock from those eight firms is $26.71, Bloomberg's data shows. PRICE ACTION: In afternoon trading, shares of Outfront Media have dropped about 1% to $21.18. Over the last three months the stock is down roughly 7.5%. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.