OUTFRONT Media Inc. (OUT) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of OUTFRONT Media Inc. (NYSE:OUT) from a sell rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “Outfront Media’s third-quarter 2017 adjusted funds from operations (FFO) per share of 56 cents came in line with the Zacks Consensus Estimate. Results were backed by higher local sales in the billboard and transit segment. Further, asset acquisition in Canada and upgradation of static billboards to digital ones aided the company’s performance. Notably, its huge geographic diversity, both industry and geographical wise, makes its revenues less volatile. The company is also using the ON Smart Media platform to reach out to a wider customer base. Amid these, shares of Outfront have outperformed its industry in the past six months. Nonetheless, the dreary environment in the national advertising market is expected to continue in the near term. Further, stiff competition and high debt levels remain concerns.”
Other equities analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of OUTFRONT Media from a hold rating to a buy rating in a research report on Monday, October 2nd. Loop Capital restated a buy rating and set a $28.00 target price (up previously from $27.00) on shares of OUTFRONT Media in a research report on Thursday, September 28th. Wells Fargo & Company restated an outperform rating and set a $30.00 target price on shares of OUTFRONT Media in a research report on Tuesday, October 3rd. Barrington Research reissued an outperform rating and issued a $26.00 price objective (down previously from $29.00) on shares of OUTFRONT Media in a research report on Monday, August 14th. Finally, BidaskClub lowered shares of OUTFRONT Media from a sell rating to a strong sell rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $30.17.
Shares of OUTFRONT Media (NYSE OUT) traded down $0.47 on Thursday, reaching $24.01. 475,550 shares of the company’s stock were exchanged, compared to its average volume of 869,396. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $3,360.00, a PE ratio of 12.52, a P/E/G ratio of 2.20 and a beta of 1.15. OUTFRONT Media has a one year low of $20.82 and a one year high of $27.89.
OUTFRONT Media (NYSE:OUT) last announced its earnings results on Monday, November 6th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). The business had revenue of $392.40 million for the quarter, compared to analyst estimates of $391.18 million. OUTFRONT Media had a return on equity of 9.57% and a net margin of 7.71%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. research analysts predict that OUTFRONT Media will post 1.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date is Thursday, December 7th. OUTFRONT Media’s dividend payout ratio is presently 171.43%.
Hedge funds have recently modified their holdings of the stock. Utah Retirement Systems increased its position in OUTFRONT Media by 62.9% during the second quarter. Utah Retirement Systems now owns 41,001 shares of the financial services provider’s stock worth $948,000 after purchasing an additional 15,837 shares during the last quarter. JPMorgan Chase & Co. increased its position in OUTFRONT Media by 7.3% during the second quarter. JPMorgan Chase & Co. now owns 14,230,026 shares of the financial services provider’s stock worth $328,999,000 after purchasing an additional 973,398 shares during the last quarter. Bank of America Corp DE increased its position in OUTFRONT Media by 4.0% during the first quarter. Bank of America Corp DE now owns 428,042 shares of the financial services provider’s stock worth $11,365,000 after purchasing an additional 16,479 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in OUTFRONT Media during the first quarter worth approximately $1,156,000. Finally, Legal & General Group Plc increased its position in OUTFRONT Media by 5.4% during the second quarter. Legal & General Group Plc now owns 126,737 shares of the financial services provider’s stock worth $2,931,000 after purchasing an additional 6,531 shares during the last quarter.
About OUTFRONT Media
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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