OUTFRONT Media (NYSE:OUT) Price Target Lowered to $17.00 at Morgan Stanley

OUTFRONT Media (NYSE:OUT) had its target price reduced by Morgan Stanley from $18.00 to $17.00 in a research note published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Separately, Barrington Research reissued an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.08.

OUTFRONT Media Stock Performance

Shares of NYSE OUT opened at $15.72 on Thursday. The company has a 50-day simple moving average of $15.82 and a 200-day simple moving average of $17.73. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $2.63 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.06 and a beta of 1.84. OUTFRONT Media has a 12 month low of $12.95 and a 12 month high of $19.98.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The company had revenue of $493.20 million during the quarter, compared to the consensus estimate of $490.42 million. On average, equities analysts anticipate that OUTFRONT Media will post 1.59 earnings per share for the current year.

OUTFRONT Media Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.63%. The ex-dividend date was Friday, March 7th. OUTFRONT Media’s dividend payout ratio (DPR) is presently 81.63%.

Hedge Funds Weigh In On OUTFRONT Media

A number of large investors have recently modified their holdings of the company. FMR LLC raised its holdings in OUTFRONT Media by 132.5% in the fourth quarter. FMR LLC now owns 15,604,202 shares of the financial services provider’s stock valued at $276,819,000 after buying an additional 8,892,411 shares during the period. Cohen & Steers Inc. raised its stake in shares of OUTFRONT Media by 87.8% in the 4th quarter. Cohen & Steers Inc. now owns 5,243,211 shares of the financial services provider’s stock valued at $93,015,000 after acquiring an additional 2,450,632 shares during the period. JPMorgan Chase & Co. boosted its position in OUTFRONT Media by 403.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,687,678 shares of the financial services provider’s stock worth $49,400,000 after purchasing an additional 2,153,423 shares during the period. Benchstone Capital Management LP acquired a new stake in OUTFRONT Media in the 4th quarter valued at $29,038,000. Finally, LSV Asset Management increased its holdings in OUTFRONT Media by 6,623.5% in the 4th quarter. LSV Asset Management now owns 1,595,362 shares of the financial services provider’s stock valued at $28,302,000 after purchasing an additional 1,571,634 shares in the last quarter.

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.