OUTFRONT Media (NYSE:OUT) Reaches New 1-Year High – Here’s What Happened

OUTFRONT Media Inc. (NYSE:OUT)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $22.28 and last traded at $22.2360, with a volume of 2158606 shares changing hands. The stock had previously closed at $21.56.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barrington Research restated an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a research report on Friday, November 7th. Citigroup reaffirmed a “buy” rating and set a $23.00 target price (up previously from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. Wall Street Zen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Saturday. New Street Research set a $24.00 target price on shares of OUTFRONT Media in a research report on Tuesday, November 11th. Finally, Morgan Stanley boosted their price target on shares of OUTFRONT Media from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

OUTFRONT Media Stock Up 3.1%

The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.79 and a current ratio of 0.79. The business has a 50 day simple moving average of $18.58 and a 200-day simple moving average of $17.66. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 1.22 and a beta of 1.82.

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

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, December 5th. OUTFRONT Media’s payout ratio is presently 176.47%.

Insider Buying and Selling

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total value of $79,961.88. Following the transaction, the executive vice president owned 4,170 shares of the company’s stock, valued at $80,814.60. This represents a 49.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total value of $151,704,000.00. Following the sale, the insider directly owned 8,913,813 shares of the company’s stock, valued at $160,983,462.78. The trade was a 48.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OUT. Advisory Services Network LLC acquired a new stake in shares of OUTFRONT Media during the third quarter valued at about $29,000. SVB Wealth LLC acquired a new stake in OUTFRONT Media in the 1st quarter valued at approximately $28,000. Private Trust Co. NA acquired a new stake in OUTFRONT Media in the 3rd quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd raised its position in OUTFRONT Media by 158.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,041 shares during the period. Finally, IFP Advisors Inc lifted its stake in OUTFRONT Media by 97.6% during the first quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 3,313 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.