Brokerages Set OUTFRONT Media Inc. (NYSE:OUT) Target Price at $30.71

OUTFRONT Media Inc. (NYSE:OUT) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $30.7143.

OUT has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of OUTFRONT Media from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Wall Street Zen upgraded shares of OUTFRONT Media from a “buy” rating to a “strong-buy” rating in a research note on Saturday. TD Cowen reiterated a “buy” rating and issued a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Morgan Stanley set a $37.00 price objective on shares of OUTFRONT Media in a research note on Friday, May 8th. Finally, Zacks Research lowered shares of OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd.

OUTFRONT Media Stock Down 1.9%

Shares of NYSE:OUT opened at $31.62 on Thursday. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $5.57 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 1.53 and a beta of 1.50. OUTFRONT Media has a 52 week low of $15.45 and a 52 week high of $34.96. The firm has a 50 day simple moving average of $30.09 and a 200 day simple moving average of $26.71.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. The business had revenue of $429.60 million during the quarter, compared to the consensus estimate of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. As a group, research analysts expect that OUTFRONT Media will post 2.11 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, June 5th. OUTFRONT Media’s dividend payout ratio is currently 114.29%.

Insider Activity at OUTFRONT Media

In other news, EVP Matthew Siegel sold 50,000 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the transaction, the executive vice president owned 289,925 shares in the company, valued at $7,477,165.75. This represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $26.93, for a total transaction of $303,528.03. Following the transaction, the director owned 36,244 shares in the company, valued at approximately $976,050.92. This trade represents a 23.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OUT. Balyasny Asset Management L.P. boosted its holdings in shares of OUTFRONT Media by 226.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,310,195 shares of the financial services provider’s stock worth $55,676,000 after buying an additional 1,603,315 shares during the period. Vanguard Group Inc. boosted its holdings in shares of OUTFRONT Media by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider’s stock worth $545,983,000 after buying an additional 1,131,954 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of OUTFRONT Media by 85.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider’s stock worth $29,192,000 after buying an additional 822,845 shares during the period. Woodline Partners LP bought a new stake in shares of OUTFRONT Media during the 3rd quarter worth $13,705,000. Finally, Federated Hermes Inc. boosted its holdings in shares of OUTFRONT Media by 199.9% during the 4th quarter. Federated Hermes Inc. now owns 905,641 shares of the financial services provider’s stock worth $21,826,000 after buying an additional 603,694 shares during the period.

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.