OUTFRONT Media Inc. (NYSE:OUT) Receives $34.00 Consensus Target Price from Analysts

Shares of OUTFRONT Media Inc. (NYSE:OUT) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $34.00.

OUT has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. TD Cowen restated a “buy” rating and issued a $40.00 price target (up from $38.00) on shares of OUTFRONT Media in a research report on Thursday, August 6th. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $38.00 price target on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. Finally, Citigroup reissued a “buy” rating on shares of OUTFRONT Media in a research note on Tuesday.

OUTFRONT Media Trading Up 0.7%

Shares of OUT opened at $28.61 on Friday. OUTFRONT Media has a twelve month low of $16.97 and a twelve month high of $34.96. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50. The firm has a market capitalization of $5.04 billion, a P/E ratio of 20.59 and a beta of 1.48. The firm’s 50-day moving average is $31.05 and its two-hundred day moving average is $30.37.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. The company had revenue of $522.50 million during the quarter, compared to the consensus estimate of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. On average, research analysts predict that OUTFRONT Media will post 2.18 earnings per share for the current fiscal year.

OUTFRONT Media Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, September 4th. This is an increase from OUTFRONT Media’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 4.6%. OUTFRONT Media’s dividend payout ratio (DPR) is presently 94.96%.

Insider Activity

In other news, EVP Mark Emilio Bonanni sold 3,385 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $29.82, for a total value of $100,940.70. Following the sale, the executive vice president directly owned 10,420 shares in the company, valued at $310,724.40. This represents a 24.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Sauer sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the transaction, the executive vice president directly owned 56,947 shares of the company’s stock, valued at approximately $1,826,859.76. This trade represents a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,385 shares of company stock worth $730,541 in the last ninety days. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OUTFRONT Media

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

About OUTFRONT Media

OUTFRONT Media Inc is an out-of-home (OOH) advertising company that provides brands and agencies with advertising space across physical and digital media. Its inventory includes billboards, digital displays, transit advertising, street furniture, and other media assets located in high-traffic areas.

The company’s offerings include traditional static advertising, digital out-of-home campaigns, place-based media, and experiential marketing solutions. OUTFRONT also uses audience insights, location data, and technology to help advertisers plan, target, measure, and optimize campaigns across its media network.

OUTFRONT serves advertisers primarily in the United States and Canada, with media assets in major metropolitan markets and transportation systems.