According to Zacks, “Shares of Outfront outperformed the Zacks categorized REIT – Equity Trust – Other industry over the past three months. Also, its estimate for 2017 moved north over the past 30 days. In February, the company reported fourth-quarter 2016 adjusted funds from operations (FFO) per share of $0.56, beating the Zacks Consensus Estimate of $0.51. Also, the company announced the implementation of ON Smart Media platform with the Massachusetts Bay Transportation Authority (MBTA). Moreover, the recent hike in dividend is encouraging. The company’s huge geographic diversity, efforts to convert from traditional static billboard displays to digital billboard displays and low-cost out-of-home (OOH) platform augur well. However, cut-throat competition, dependence on the prospects of advertisers and rise in the interest rate remain concerns.”
Several other brokerages also recently weighed in on OUT. Wedbush upped their price objective on Outfront Media from $36.00 to $42.00 and gave the stock an outperform rating in a research report on Thursday, February 23rd. Wells Fargo & Co upgraded Outfront Media from a market perform rating to an outperform rating and upped their price objective for the stock from $23.00 to $28.00 in a research report on Tuesday, November 22nd. JPMorgan Chase & Co. downgraded Outfront Media from an overweight rating to a neutral rating and upped their price objective for the stock from $26.00 to $28.00 in a research report on Thursday, February 23rd. Goldman Sachs Group Inc downgraded Outfront Media from a buy rating to a neutral rating and set a $27.00 price objective for the company. in a research report on Tuesday, January 17th. Finally, TheStreet upgraded Outfront Media from a c rating to a b- rating in a research report on Monday, January 30th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $29.43.
Outfront Media (NYSE:OUT) opened at 26.29 on Tuesday. The company has a 50 day moving average price of $26.62 and a 200 day moving average price of $24.52. Outfront Media has a 12 month low of $20.24 and a 12 month high of $27.89. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 39.89 and a beta of 1.28.
Outfront Media (NYSE:OUT) last announced its quarterly earnings data on Wednesday, February 22nd. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Outfront Media had a negative return on equity of 0.79% and a negative net margin of 0.63%. The business earned $397.40 million during the quarter, compared to the consensus estimate of $392.43 million. During the same period in the prior year, the company earned $0.55 EPS. Outfront Media’s revenue for the quarter was down .3% on a year-over-year basis. Analysts anticipate that Outfront Media will post $0.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be given a $0.36 dividend. The ex-dividend date is Wednesday, March 8th. This is an increase from Outfront Media’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 5.48%. Outfront Media’s dividend payout ratio (DPR) is currently -1,942.58%.
A number of institutional investors have recently bought and sold shares of OUT. York Capital Management Global Advisors LLC purchased a new position in Outfront Media during the third quarter valued at approximately $52,149,000. Scout Investments Inc. purchased a new position in Outfront Media during the third quarter valued at approximately $39,319,000. Bank of New York Mellon Corp increased its position in Outfront Media by 176.9% in the third quarter. Bank of New York Mellon Corp now owns 2,115,196 shares of the company’s stock valued at $50,025,000 after buying an additional 1,351,329 shares in the last quarter. Norges Bank purchased a new position in Outfront Media during the fourth quarter valued at approximately $32,005,000. Finally, Vulcan Value Partners LLC purchased a new position in Outfront Media during the fourth quarter valued at approximately $23,839,000.
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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