OUTFRONT Media (NYSE:OUT) Sets New 52-Week High – Here’s What Happened

OUTFRONT Media Inc. (NYSE:OUT)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $24.89 and last traded at $24.8720, with a volume of 123573 shares traded. The stock had previously closed at $24.44.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, November 11th. New Street Research set a $24.00 price objective on shares of OUTFRONT Media in a research report on Tuesday, November 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $27.00 price target (up previously from $23.00) on shares of OUTFRONT Media in a research report on Thursday, December 18th. Cowen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Tuesday, November 11th. Finally, Citigroup reiterated a “buy” rating and set a $23.00 price objective (up previously from $20.00) on shares of OUTFRONT Media in a report on Wednesday, November 12th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $24.57.

OUTFRONT Media Price Performance

The firm’s 50-day moving average is $23.31 and its 200-day moving average is $19.86. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75. The company has a market capitalization of $4.17 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 1.21 and a beta of 1.57.

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

OUTFRONT Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.8%. OUTFRONT Media’s payout ratio is presently 176.47%.

Insiders Place Their Bets

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,270 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $22.18, for a total transaction of $249,968.60. Following the completion of the sale, the director owned 58,786 shares of the company’s stock, valued at approximately $1,303,873.48. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On OUTFRONT Media

Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of OUTFRONT Media by 9.3% in the 1st quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider’s stock worth $2,105,000 after purchasing an additional 11,073 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 buying an additional 1,739 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of OUTFRONT Media by 9.9% in 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 purchasing an additional 448,993 shares during the last quarter. Empowered Funds LLC grew its holdings 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 buying an additional 2,357 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in shares of OUTFRONT Media by 45.6% during the 1st 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 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.