Bank of New York Mellon Corp decreased its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 44.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,649,754 shares of the financial services provider’s stock after selling 1,321,547 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.19% of OUTFRONT Media worth $41,542,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in OUT. Janus Henderson Group PLC bought a new position in OUTFRONT Media during the 2nd quarter worth $100,424,000. Deprince Race & Zollo Inc. raised its position in OUTFRONT Media by 53.7% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,980,580 shares of the financial services provider’s stock worth $68,911,000 after purchasing an additional 1,040,813 shares during the last quarter. Magnolia Group LLC bought a new position in OUTFRONT Media during the 3rd quarter worth $25,180,000. JPMorgan Chase & Co. raised its position in OUTFRONT Media by 7.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,230,026 shares of the financial services provider’s stock worth $328,999,000 after purchasing an additional 973,398 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its position in shares of OUTFRONT Media by 2,593.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 702,465 shares of the financial services provider’s stock worth $16,241,000 after acquiring an additional 676,383 shares in the last quarter.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Wells Fargo & Company reissued an “outperform” rating and issued a $30.00 price objective on shares of OUTFRONT Media in a research report on Tuesday, October 3rd. ValuEngine raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Loop Capital reissued a “buy” rating and issued a $28.00 price objective (up from $27.00) on shares of OUTFRONT Media in a research report on Thursday, September 28th. Finally, Barrington Research reissued an “outperform” rating and issued a $26.00 price objective (down from $29.00) on shares of OUTFRONT Media in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $30.17.
Shares of OUTFRONT Media Inc. (NYSE:OUT) traded up $0.10 during trading on Thursday, reaching $23.03. The company had a trading volume of 1,432,600 shares, compared to its average volume of 858,239. OUTFRONT Media Inc. has a twelve month low of $20.82 and a twelve month high of $27.89. The company has a market cap of $3,178.93, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.23 and a quick ratio of 1.23.
OUTFRONT Media (NYSE:OUT) last issued its earnings results on Monday, November 6th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). OUTFRONT Media had a net margin of 7.71% and a return on equity of 9.57%. The firm had revenue of $392.40 million during the quarter, compared to the consensus estimate of $391.18 million. During the same period in the previous year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. sell-side analysts predict that OUTFRONT Media Inc. will post 1.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend is Thursday, December 7th. OUTFRONT Media’s payout ratio is 171.43%.
About OUTFRONT Media
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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