OUTFRONT Media (NYSE:OUT) Hits New 12-Month High – Here’s What Happened

OUTFRONT Media Inc. (NYSE:OUT) reached a new 52-week high on Thursday . The stock traded as high as $25.48 and last traded at $25.3350, with a volume of 1076823 shares traded. The stock had previously closed at $24.61.

Wall Street Analysts Forecast Growth

Several research firms have commented on OUT. Barrington Research restated an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a report on Friday, November 7th. TD Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. raised shares of OUTFRONT Media from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $25.00 in a research report on Wednesday, November 12th. Citigroup reaffirmed a “buy” rating and set a $23.00 price target (up previously from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. Finally, Wall Street Zen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, OUTFRONT Media presently has a consensus rating of “Buy” and an average target price of $24.57.

OUTFRONT Media Trading Up 2.9%

The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79. The business’s 50-day simple moving average is $23.66 and its two-hundred day simple moving average is $20.11. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 1.24 and a beta of 1.57.

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

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.20 annualized dividend and a dividend yield of 4.7%. OUTFRONT Media’s dividend payout ratio is presently 176.47%.

Insider Activity

In related news, Director Manuel A. Diaz sold 11,271 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $24.49, for a total transaction of $276,026.79. Following the sale, the director directly owned 47,515 shares in the company, valued at approximately $1,163,642.35. This trade represents a 19.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

Institutional Trading of OUTFRONT Media

Several large investors have recently bought and sold shares of OUT. AQR Capital Management LLC boosted its stake in shares of OUTFRONT Media by 9.3% in the first quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider’s stock valued at $2,105,000 after purchasing an additional 11,073 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in OUTFRONT Media by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider’s stock valued at $1,388,000 after buying an additional 1,739 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of OUTFRONT Media by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock valued at $80,393,000 after acquiring an additional 448,993 shares in the last quarter. Empowered Funds LLC increased its position in shares of OUTFRONT Media by 12.4% during the first quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 2,357 shares during the last quarter. Finally, Woodline Partners LP increased its position in shares of OUTFRONT Media by 45.6% during the first quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider’s stock worth $595,000 after acquiring an additional 11,559 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.