Outfront Media (OUT) Reaches New 12-Month High at $23.06

Outfront Media Inc (NYSE:OUT) shares reached a new 52-week high on Thursday . The stock traded as high as $23.06 and last traded at $23.06, with a volume of 869665 shares. The stock had previously closed at $22.50.

OUT has been the topic of several recent analyst reports. Barrington Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Outfront Media in a research report on Wednesday, February 27th. TheStreet raised Outfront Media from a “c+” rating to a “b-” rating in a research report on Monday, November 26th. Wolfe Research initiated coverage on Outfront Media in a research report on Friday, December 7th. They set an “outperform” rating and a $25.00 price target on the stock. Zacks Investment Research raised Outfront Media from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, January 8th. Finally, ValuEngine raised Outfront Media from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.54.

The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.37 and a beta of 1.26. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.88.

Outfront Media (NYSE:OUT) last posted its quarterly earnings results on Tuesday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The firm had revenue of $452.40 million for the quarter, compared to analyst estimates of $446.18 million. Outfront Media had a return on equity of 9.45% and a net margin of 6.72%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, equities research analysts predict that Outfront Media Inc will post 2.26 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 6.24%. Outfront Media’s dividend payout ratio is currently 66.98%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of Outfront Media by 79.9% in the 3rd quarter. US Bancorp DE now owns 41,487 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 18,432 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Outfront Media by 23.3% during the 3rd quarter. Wells Fargo & Company MN now owns 1,182,590 shares of the financial services provider’s stock valued at $23,594,000 after acquiring an additional 223,507 shares in the last quarter. Commonwealth Bank of Australia purchased a new position in Outfront Media during the 3rd quarter valued at about $666,000. Keybank National Association OH increased its holdings in Outfront Media by 25.5% during the 3rd quarter. Keybank National Association OH now owns 69,695 shares of the financial services provider’s stock valued at $1,390,000 after acquiring an additional 14,145 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Outfront Media by 83.4% during the 3rd quarter. Alliancebernstein L.P. now owns 134,650 shares of the financial services provider’s stock valued at $2,686,000 after acquiring an additional 61,242 shares in the last quarter. Institutional investors own 95.39% of the company’s stock.

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Outfront Media Company Profile (NYSE:OUT)

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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.

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