Wall Street Zen lowered shares of OUTFRONT Media (NYSE:OUT – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning.
Several other analysts also recently commented on the stock. Wells Fargo & Company raised their price objective on shares of OUTFRONT Media from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Morgan Stanley set a $37.00 price objective on shares of OUTFRONT Media in a research report on Friday, May 8th. Zacks Research downgraded shares of OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. TD Cowen reaffirmed a “buy” rating and set a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Finally, Barrington Research set a $38.00 price objective on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.71.
Read Our Latest Analysis on OUT
OUTFRONT Media Stock Performance
OUTFRONT Media (NYSE:OUT – Get Free Report) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The business had revenue of $429.60 million during the quarter, compared to the consensus estimate of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Research analysts anticipate that OUTFRONT Media will post 2.08 earnings per share for the current year.
OUTFRONT Media Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.20 annualized dividend and a yield of 3.8%. OUTFRONT Media’s dividend payout ratio (DPR) is presently 114.29%.
Insider Buying and Selling at OUTFRONT Media
In related news, EVP Matthew Siegel sold 50,000 shares of OUTFRONT Media stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total value of $1,289,500.00. Following the completion of the sale, the executive vice president owned 289,925 shares of the company’s stock, valued at approximately $7,477,165.75. This trade represents a 14.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel A. Diaz sold 11,271 shares of OUTFRONT Media stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $26.93, for a total transaction of $303,528.03. Following the completion of the sale, the director directly owned 36,244 shares of the company’s stock, valued at approximately $976,050.92. The trade was a 23.72% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.47% of the company’s stock.
Institutional Trading of OUTFRONT Media
Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in OUTFRONT Media in the 3rd quarter valued at $29,000. Farther Finance Advisors LLC grew its position in OUTFRONT Media by 157.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,431 shares during the period. Kestra Advisory Services LLC acquired a new stake in OUTFRONT Media in the 4th quarter valued at $71,000. IFP Advisors Inc grew its position in OUTFRONT Media by 16.5% in the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 582 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in OUTFRONT Media by 224.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,853 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 5,432 shares during the period.
OUTFRONT Media Company Profile
OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.
Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.
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