OUTFRONT Media (NYSE:OUT) Reaches New 52-Week High at $17.28

Shares of OUTFRONT Media Inc. (NYSE:OUT) hit a new 52-week high during trading on Monday . The stock traded as high as $17.28 and last traded at $17.04, with a volume of 24094 shares changing hands. The stock had previously closed at $17.14.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OUT shares. JPMorgan Chase & Co. upped their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen initiated coverage on OUTFRONT Media in a research note on Tuesday, July 16th. They set a “hold” rating and a $16.00 price target for the company. StockNews.com upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Friday, August 30th. Finally, Barrington Research raised their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.00.

OUTFRONT Media Stock Up 0.5 %

The company has a fifty day moving average price of $15.97 and a 200 day moving average price of $15.40. The company has a market cap of $2.94 billion, a PE ratio of -6.66, a price-to-earnings-growth ratio of 1.10 and a beta of 1.94. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.67 and a quick ratio of 0.67.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.60. OUTFRONT Media had a net margin of 12.32% and a return on equity of 37.83%. The firm had revenue of $477.30 million for the quarter, compared to analyst estimates of $482.27 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that OUTFRONT Media Inc. will post 1.53 EPS for the current year.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.77%. The ex-dividend date is Friday, September 6th. OUTFRONT Media’s dividend payout ratio (DPR) is currently -45.11%.

Hedge Funds Weigh In On OUTFRONT Media

Large investors have recently modified their holdings of the company. Land & Buildings Investment Management LLC bought a new stake in shares of OUTFRONT Media in the 2nd quarter worth approximately $22,724,000. DAVENPORT & Co LLC lifted its stake in shares of OUTFRONT Media by 145.8% in the 1st quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider’s stock valued at $28,825,000 after acquiring an additional 1,020,719 shares during the last quarter. Norges Bank bought a new position in OUTFRONT Media during the 4th quarter worth approximately $13,779,000. Cove Street Capital LLC increased its stake in OUTFRONT Media by 250.2% in the 4th quarter. Cove Street Capital LLC now owns 841,279 shares of the financial services provider’s stock worth $11,744,000 after purchasing an additional 601,079 shares during the period. Finally, Lasalle Investment Management Securities LLC lifted its position in OUTFRONT Media by 17.3% in the first quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock valued at $47,733,000 after purchasing an additional 419,706 shares during the last quarter.

About OUTFRONT Media

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.