OUTFRONT Media (NYSE:OUT) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of OUTFRONT Media Inc. (NYSE:OUT) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.42 and traded as low as $16.08. OUTFRONT Media shares last traded at $16.29, with a volume of 971,628 shares.

Wall Street Analyst Weigh In

Separately, Morgan Stanley boosted their price objective on OUTFRONT Media from $17.43 to $18.45 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, OUTFRONT Media has an average rating of “Hold” and an average price target of $19.48.

OUTFRONT Media Trading Down 0.6 %

The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50-day moving average price of $17.91 and a two-hundred day moving average price of $18.43. The stock has a market cap of $2.72 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.06 and a beta of 2.00.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The business had revenue of $493.20 million during the quarter, compared to analysts’ expectations of $490.42 million. Sell-side analysts forecast that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Friday, March 7th. OUTFRONT Media’s dividend payout ratio is presently 81.63%.

Hedge Funds Weigh In On OUTFRONT Media

A number of institutional investors and hedge funds have recently made changes to their positions in OUT. Daiwa Securities Group Inc. lifted its holdings in shares of OUTFRONT Media by 4,720.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 45,749 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 44,800 shares during the last quarter. FMR LLC lifted its stake in shares of OUTFRONT Media by 13.6% in the 3rd quarter. FMR LLC now owns 6,711,791 shares of the financial services provider’s stock valued at $123,363,000 after purchasing an additional 803,292 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of OUTFRONT Media by 112.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 140,000 shares of the financial services provider’s stock worth $2,573,000 after purchasing an additional 74,000 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of OUTFRONT Media by 4.9% in the 3rd quarter. MetLife Investment Management LLC now owns 89,582 shares of the financial services provider’s stock worth $1,647,000 after purchasing an additional 4,181 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of OUTFRONT Media by 109.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 379,245 shares of the financial services provider’s stock valued at $6,971,000 after purchasing an additional 198,528 shares during the last quarter.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.