OUTFRONT Media (NYSE:OUT) Reaches New 1-Year High – What’s Next?

OUTFRONT Media Inc. (NYSE:OUT) hit a new 52-week high on Tuesday . The stock traded as high as $18.97 and last traded at $18.94, with a volume of 232163 shares traded. The stock had previously closed at $18.53.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OUT shares. Wells Fargo & Company began coverage on OUTFRONT Media in a report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price target for the company. TD Cowen assumed coverage on shares of OUTFRONT Media in a research note on Tuesday, July 16th. They set a “hold” rating and a $16.00 price target on the stock. Barrington Research boosted their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. StockNews.com lowered OUTFRONT Media from a “buy” rating to a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

OUTFRONT Media Stock Up 2.8 %

The firm has a market capitalization of $3.16 billion, a PE ratio of -6.97, a PEG ratio of 1.20 and a beta of 1.94. The business’s fifty day moving average price is $17.01 and its 200 day moving average price is $15.69. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.71.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.60. The company had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $482.27 million. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. On average, equities research analysts forecast that OUTFRONT Media Inc. will post 1.53 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.20 annualized dividend and a yield of 6.30%. OUTFRONT Media’s dividend payout ratio is currently -45.11%.

Institutional Trading of OUTFRONT Media

Several hedge funds have recently made changes to their positions in OUT. Land & Buildings Investment Management LLC purchased a new position in OUTFRONT Media during the second quarter worth about $22,724,000. DAVENPORT & Co LLC boosted its stake in shares of OUTFRONT Media by 145.8% in the first quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider’s stock valued at $28,825,000 after buying an additional 1,020,719 shares in the last quarter. Lasalle Investment Management Securities LLC raised 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 worth $47,733,000 after acquiring an additional 419,706 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in OUTFRONT Media by 23.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,927,340 shares of the financial services provider’s stock valued at $32,360,000 after acquiring an additional 371,978 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in shares of OUTFRONT Media by 216.1% during the 1st quarter. First Eagle Investment Management LLC now owns 479,191 shares of the financial services provider’s stock worth $8,046,000 after purchasing an additional 327,584 shares in 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.