OUTFRONT Media (NYSE:OUT) Price Target Raised to $20.00

OUTFRONT Media (NYSE:OUT) had its price objective boosted by Morgan Stanley from $19.00 to $20.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

OUT has been the subject of a number of other reports. Wells Fargo & Company reissued an “overweight” rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Wall Street Zen upgraded OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Barrington Research reissued an “outperform” rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, OUTFRONT Media has an average rating of “Moderate Buy” and a consensus price target of $22.00.

OUTFRONT Media Trading Up 2.2%

Shares of OUTFRONT Media stock opened at $21.42 on Monday. OUTFRONT Media has a 1 year low of $12.95 and a 1 year high of $21.88. The firm has a market cap of $3.58 billion, a PE ratio of 31.50, a P/E/G ratio of 1.23 and a beta of 1.82. The stock has a fifty day moving average price of $18.32 and a 200-day moving average price of $17.46. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.61.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The company had revenue of $467.50 million during the quarter, compared to analysts’ expectations of $458.32 million. OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.OUTFRONT Media’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. Equities research analysts anticipate that OUTFRONT Media will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, December 5th. OUTFRONT Media’s payout ratio is currently 176.47%.

Insider Buying and Selling at OUTFRONT Media

In other OUTFRONT Media news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the sale, the insider owned 8,913,813 shares in the company, valued at $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the transaction, the executive vice president directly owned 4,170 shares of the company’s stock, valued at $80,814.60. The trade was a 49.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On OUTFRONT Media

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of OUTFRONT Media by 7.6% in the first quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider’s stock valued at $126,476,000 after acquiring an additional 555,568 shares during the period. Goldman Sachs Group Inc. increased its holdings in OUTFRONT Media by 9.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock worth $80,393,000 after acquiring an additional 448,993 shares during the period. Lasalle Investment Management Securities LLC lifted its stake in OUTFRONT Media by 24.0% in the 2nd quarter. Lasalle Investment Management Securities LLC now owns 3,925,402 shares of the financial services provider’s stock worth $64,063,000 after purchasing an additional 758,952 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in OUTFRONT Media by 10.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,888,621 shares of the financial services provider’s stock valued at $47,142,000 after purchasing an additional 275,023 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in OUTFRONT Media by 0.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,264,674 shares of the financial services provider’s stock valued at $36,959,000 after purchasing an additional 16,560 shares during the period.

OUTFRONT Media Company Profile

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.