OUTFRONT Media (NYSE:OUT) Price Target Raised to $18.00 at Morgan Stanley

OUTFRONT Media (NYSE:OUT) had its target price upped by Morgan Stanley from $17.00 to $18.00 in a research note released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on OUT. Barrington Research restated an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Wells Fargo & Company began coverage on shares of OUTFRONT Media in a research report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price target on the stock. StockNews.com lowered OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Wolfe Research lowered OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, OUTFRONT Media has a consensus rating of “Hold” and a consensus price target of $19.00.

OUTFRONT Media Stock Performance

Shares of OUTFRONT Media stock opened at $17.60 on Wednesday. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.20 and a beta of 1.96. OUTFRONT Media has a twelve month low of $12.27 and a twelve month high of $19.50. The company’s fifty day moving average is $18.63 and its 200 day moving average is $16.78. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.20). The company had revenue of $451.90 million during the quarter, compared to analyst estimates of $456.38 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. Sell-side analysts forecast that OUTFRONT Media will post 1.56 EPS for the current year.

OUTFRONT Media Cuts Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 15th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is presently 87.59%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OUT. Harbor Capital Advisors Inc. acquired a new stake in OUTFRONT Media in the third quarter valued at approximately $32,000. Quarry LP lifted its holdings in shares of OUTFRONT Media by 258.8% in the 2nd quarter. Quarry LP now owns 1,837 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,325 shares in the last quarter. National Bank of Canada FI acquired a new stake in OUTFRONT Media in the 2nd quarter valued at $28,000. Virtus Fund Advisers LLC bought a new stake in OUTFRONT Media during the 3rd quarter valued at $49,000. Finally, Quest Partners LLC raised its holdings in OUTFRONT Media by 30.0% during the second quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock worth $62,000 after buying an additional 994 shares during the last quarter.

OUTFRONT Media Company Profile

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.