OUTFRONT Media (NYSE:OUT) Shares Pass Above 50-Day Moving Average – Here’s What Happened

OUTFRONT Media Inc. (NYSE:OUT)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $23.17 and traded as high as $24.33. OUTFRONT Media shares last traded at $24.16, with a volume of 1,560,211 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on OUT shares. Morgan Stanley raised shares of OUTFRONT Media from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $28.00 in a report on Tuesday, December 16th. Citigroup restated a “buy” rating and set a $23.00 target price (up previously from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Barrington Research restated an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research report on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $24.57.

OUTFRONT Media Stock Down 0.0%

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75. The company has a market capitalization of $4.04 billion, a PE ratio of 35.53, a PEG ratio of 1.21 and a beta of 1.57. The company’s 50 day moving average is $23.17 and its two-hundred day moving average is $19.82.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate 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%.The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. On average, analysts anticipate that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 5.0%. OUTFRONT Media’s dividend payout ratio is presently 176.47%.

Insiders Place Their Bets

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,270 shares of OUTFRONT Media stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $22.18, for a total value of $249,968.60. Following the sale, the director owned 58,786 shares of the company’s stock, valued at $1,303,873.48. The trade was a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pensionfund Sabic bought a new stake in OUTFRONT Media in the fourth quarter worth $526,000. Pensionfund PDN bought a new stake in shares of OUTFRONT Media in the 4th quarter worth about $1,027,000. SG Americas Securities LLC raised its position in shares of OUTFRONT Media by 2.6% during the 4th quarter. SG Americas Securities LLC now owns 37,532 shares of the financial services provider’s stock valued at $905,000 after buying an additional 961 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of OUTFRONT Media during the 4th quarter valued at about $210,000. Finally, GAMMA Investing LLC lifted its holdings in shares of OUTFRONT Media by 8.2% in the 4th quarter. GAMMA Investing LLC now owns 9,020 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 682 shares during the last quarter.

About OUTFRONT Media

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.