OUTFRONT Media (NYSE:OUT) Reaches New 1-Year High – Here’s Why

OUTFRONT Media Inc. (NYSE:OUT)’s stock price reached a new 52-week high on Monday . The company traded as high as $19.48 and last traded at $19.17, with a volume of 444394 shares changing hands. The stock had previously closed at $19.13.

Analyst Ratings Changes

Several equities analysts recently commented on OUT shares. JPMorgan Chase & Co. increased their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wolfe Research lowered shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. Barrington Research reissued an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company started coverage on shares of OUTFRONT Media in a research report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price target for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, OUTFRONT Media has an average rating of “Hold” and a consensus target price of $19.25.

OUTFRONT Media Stock Up 0.5 %

The business’s 50 day moving average is $18.34 and its 200-day moving average is $16.26. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.23 and a beta of 1.94. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65.

OUTFRONT Media (NYSE:OUT) last announced its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.20). OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The business had revenue of $451.90 million for the quarter, compared to analyst estimates of $456.38 million. During the same period last year, the firm earned $0.46 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts predict that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is presently 87.59%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OUT. Land & Buildings Investment Management LLC purchased a new stake in OUTFRONT Media in the 2nd quarter valued at about $22,724,000. Point72 Asset Management L.P. purchased a new stake in OUTFRONT Media in the 3rd quarter valued at about $24,552,000. FMR LLC raised its holdings in 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 buying an additional 803,292 shares during the period. Lasalle Investment Management Securities LLC raised its holdings in OUTFRONT Media by 17.3% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock valued at $47,733,000 after buying an additional 419,706 shares during the period. Finally, DigitalBridge Group Inc. raised its holdings in OUTFRONT Media by 11.7% in 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.

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.