Outfront Media Inc. (NYSE:OUT) has been assigned an average recommendation of “Hold” from the eight brokerages that are covering the stock. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $25.67.
OUT has been the subject of several research analyst reports. Zacks Investment Research cut shares of Outfront Media from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Loop Capital started coverage on shares of Outfront Media in a report on Monday, September 12th. They set a “hold” rating and a $23.00 target price for the company. Wedbush started coverage on shares of Outfront Media in a report on Thursday, July 21st. They set a “neutral” rating and a $26.00 target price for the company. Finally, Gabelli started coverage on shares of Outfront Media in a report on Friday, July 22nd. They set a “hold” rating and a $29.00 target price for the company.
In other news, EVP Andrew Sriubas bought 6,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were bought at an average cost of $20.88 per share, with a total value of $125,280.00. Following the acquisition, the executive vice president now owns 19,319 shares in the company, valued at $403,380.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy J. Male bought 5,000 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was purchased at an average cost of $21.38 per share, for a total transaction of $106,900.00. Following the completion of the acquisition, the chief executive officer now owns 204,297 shares in the company, valued at approximately $4,367,869.86. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
Several large investors have recently modified their holdings of OUT. Royal Bank of Canada raised its position in shares of Outfront Media by 4.6% in the first quarter. Royal Bank of Canada now owns 48,744 shares of the company’s stock worth $1,028,000 after buying an additional 2,138 shares during the period. Artemis Investment Management LLP raised its position in shares of Outfront Media by 105.6% in the second quarter. Artemis Investment Management LLP now owns 6,084,491 shares of the company’s stock worth $147,151,000 after buying an additional 3,124,913 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Outfront Media by 706.2% in the first quarter. Renaissance Technologies LLC now owns 1,709,100 shares of the company’s stock worth $36,062,000 after buying an additional 1,497,100 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Outfront Media by 10.0% in the second quarter. JPMorgan Chase & Co. now owns 9,130,965 shares of the company’s stock worth $220,695,000 after buying an additional 830,571 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Outfront Media during the first quarter worth about $949,000.
Shares of Outfront Media (NYSE:OUT) traded up 0.91% during midday trading on Monday, hitting $23.40. The stock had a trading volume of 257,991 shares. The stock has a 50-day moving average of $22.19 and a 200 day moving average of $22.31. Outfront Media has a 52 week low of $18.01 and a 52 week high of $24.44. The stock’s market cap is $3.23 billion.
Outfront Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.06. Outfront Media had a negative return on equity of 2.13% and a negative net margin of 1.74%. The company earned $385.30 million during the quarter, compared to the consensus estimate of $380.11 million. During the same quarter last year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Outfront Media will post $2.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.36 annualized dividend and a yield of 5.82%. Outfront Media’s dividend payout ratio (DPR) is presently -679.97%.
About Outfront Media
OUTFRONT Media Inc, formerly CBS Outdoor Americas Inc, is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments.
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