JPMorgan Chase & Co. reiterated their overweight rating on shares of OUTFRONT Media (NYSE:OUT – Free Report) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $38.00 target price on the financial services provider’s stock.
OUT has been the subject of a number of other reports. Morgan Stanley set a $37.00 price target on shares of OUTFRONT Media in a research report on Friday, May 8th. Wall Street Zen raised shares of OUTFRONT Media from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. TD Cowen reiterated a “buy” rating and set a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Finally, Barrington Research set a $38.00 price target on 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 given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.57.
Get Our Latest Research Report on OUT
OUTFRONT Media Stock Performance
OUTFRONT Media (NYSE:OUT – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The company had revenue of $429.60 million during the quarter, compared to the consensus estimate of $431.44 million. During the same period in the prior year, the firm earned $0.14 earnings per share. OUTFRONT Media’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts expect that OUTFRONT Media will post 2.11 earnings per share for the current year.
OUTFRONT Media Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, June 5th. OUTFRONT Media’s dividend payout ratio (DPR) is presently 114.29%.
Insider Transactions at OUTFRONT Media
In related news, EVP James Michael Norton purchased 4,130 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $30.81 per share, with a total value of $127,245.30. Following the acquisition, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the completion of the sale, the executive vice president owned 56,947 shares of the company’s stock, valued at $1,826,859.76. This represents a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 20,000 shares of company stock valued at $629,600. 0.45% of the stock is owned by insiders.
Institutional Investors Weigh In On OUTFRONT Media
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. lifted its holdings in OUTFRONT Media by 226.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,310,195 shares of the financial services provider’s stock valued at $55,676,000 after acquiring an additional 1,603,315 shares during the period. Vanguard Group Inc. grew its stake in shares of OUTFRONT Media by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider’s stock valued at $545,983,000 after purchasing an additional 1,131,954 shares during the period. Ameriprise Financial Inc. grew its stake in shares of OUTFRONT Media by 85.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider’s stock valued at $29,192,000 after purchasing an additional 822,845 shares during the period. Woodline Partners LP purchased a new stake in shares of OUTFRONT Media during the 3rd quarter valued at about $13,705,000. Finally, Federated Hermes Inc. increased its position in shares of OUTFRONT Media by 199.9% during the 4th quarter. Federated Hermes Inc. now owns 905,641 shares of the financial services provider’s stock valued at $21,826,000 after purchasing an additional 603,694 shares during the last quarter.
About OUTFRONT Media
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.
Read More
- Five stocks we like better than OUTFRONT Media
- AMD and Cerbras Create A New Blueprint For Hardware
- Intel Earnings Reveal Whether the Chip Selloff Created a Buy
- CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test
- Plugging In: How Kinder Morgan Powers Up Profits
Receive News & Ratings for OUTFRONT Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OUTFRONT Media and related companies with MarketBeat.com's FREE daily email newsletter.
