OUTFRONT Media (NYSE:OUT) Sets New 1-Year High – Here’s What Happened

OUTFRONT Media Inc. (NYSE:OUT)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.97 and last traded at $18.94, with a volume of 232163 shares traded. The stock had previously closed at $18.53.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. TD Cowen initiated coverage on shares of OUTFRONT Media in a research report on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Barrington Research upped their target price on OUTFRONT Media from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Wells Fargo & Company began coverage on OUTFRONT Media in a report on Thursday, September 19th. They set an “overweight” rating and a $22.00 target price on the stock. Finally, StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

OUTFRONT Media Stock Performance

The stock’s 50-day moving average is $17.01 and its 200-day moving average is $15.69. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -6.97, a price-to-earnings-growth ratio of 1.20 and a beta of 1.94.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.60. The business had revenue of $477.30 million during the quarter, compared to the consensus estimate of $482.27 million. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 earnings per share. Analysts anticipate that OUTFRONT Media Inc. will post 1.53 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date was Friday, September 6th. OUTFRONT Media’s dividend payout ratio is currently -45.11%.

Institutional Investors Weigh In On OUTFRONT Media

A number of institutional investors have recently bought and sold shares of OUT. DigitalBridge Group Inc. grew its stake in shares of OUTFRONT Media by 11.7% during the 2nd quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock valued at $44,703,000 after buying an additional 327,125 shares during the period. Wellington Management Group LLP grew its position in OUTFRONT Media by 6.0% during the fourth quarter. Wellington Management Group LLP now owns 3,027,771 shares of the financial services provider’s stock valued at $42,268,000 after acquiring an additional 170,744 shares during the period. Lasalle Investment Management Securities LLC increased its stake in OUTFRONT Media by 17.3% during the first quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock worth $47,733,000 after acquiring an additional 419,706 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of OUTFRONT Media by 10.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,137,548 shares of the financial services provider’s stock worth $30,567,000 after purchasing an additional 210,208 shares during the period. Finally, DAVENPORT & Co LLC grew its holdings in shares of OUTFRONT Media by 145.8% during the 1st quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider’s stock worth $28,825,000 after purchasing an additional 1,020,719 shares during the period.

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.