M&G Plc Buys New Stake in OUTFRONT Media Inc. (NYSE:OUT)

M&G Plc purchased a new position in shares of OUTFRONT Media Inc. (NYSE:OUT) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 10,831 shares of the financial services provider’s stock, valued at approximately $152,000.

A number of other institutional investors have also modified their holdings of the stock. Spire Wealth Management purchased a new stake in shares of OUTFRONT Media in the fourth quarter worth about $28,000. Riverview Trust Co acquired a new position in OUTFRONT Media in the first quarter valued at approximately $33,000. GAMMA Investing LLC lifted its holdings in OUTFRONT Media by 105.2% in the first quarter. GAMMA Investing LLC now owns 3,849 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 1,973 shares during the period. CWM LLC boosted its position in OUTFRONT Media by 163.6% in the 4th quarter. CWM LLC now owns 6,044 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 3,751 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of OUTFRONT Media by 343.7% during the 4th quarter. Signaturefd LLC now owns 7,041 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 5,454 shares in the last quarter.

Wall Street Analysts Forecast Growth

OUT has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen started coverage on OUTFRONT Media in a research note on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price target for the company. StockNews.com raised OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Barrington Research raised their price objective on OUTFRONT Media from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.40.

OUTFRONT Media Stock Up 3.6 %

OUT opened at $15.59 on Wednesday. The company has a market cap of $2.59 billion, a PE ratio of -5.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.92. OUTFRONT Media Inc. has a twelve month low of $8.18 and a twelve month high of $17.02. The company has a 50-day moving average price of $14.66 and a 200 day moving average price of $14.83. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 5.08.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.41 by $0.60. The firm had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $482.27 million. OUTFRONT Media had a negative return on equity of 72.77% and a negative net margin of 23.38%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. Sell-side analysts expect that OUTFRONT Media Inc. will post 1.55 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.70%. The ex-dividend date is Friday, September 6th. OUTFRONT Media’s dividend payout ratio (DPR) is -45.11%.

About OUTFRONT Media

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.