Toronto Dominion Bank Invests $471,000 in Outfront Media Inc (NYSE:OUT)
Toronto Dominion Bank purchased a new position in shares of Outfront Media Inc (NYSE:OUT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 24,239 shares of the financial services provider’s stock, valued at approximately $471,000.
Several other institutional investors have also modified their holdings of OUT. FMR LLC boosted its stake in shares of Outfront Media by 9.9% during the 1st quarter. FMR LLC now owns 13,276,952 shares of the financial services provider’s stock worth $310,681,000 after acquiring an additional 1,200,483 shares during the last quarter. LSV Asset Management boosted its stake in shares of Outfront Media by 52.1% during the 2nd quarter. LSV Asset Management now owns 2,805,889 shares of the financial services provider’s stock worth $72,363,000 after acquiring an additional 961,351 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Outfront Media by 23.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,600,969 shares of the financial services provider’s stock worth $92,869,000 after acquiring an additional 675,000 shares during the last quarter. Hillcrest Asset Management LLC purchased a new position in shares of Outfront Media during the 1st quarter worth $11,029,000. Finally, ZWJ Investment Counsel Inc. boosted its stake in shares of Outfront Media by 40.8% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 1,207,809 shares of the financial services provider’s stock worth $28,263,000 after acquiring an additional 349,990 shares during the last quarter. Institutional investors and hedge funds own 94.89% of the company’s stock.
Several research analysts have recently weighed in on the stock. Barrington Research reiterated a “buy” rating and set a $29.00 price target on shares of Outfront Media in a research note on Wednesday, May 29th. Zacks Investment Research upgraded shares of Outfront Media from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Saturday, August 10th. Finally, Imperial Capital raised their price objective on shares of Outfront Media from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Outfront Media presently has an average rating of “Buy” and an average price target of $27.85.
Outfront Media (NYSE:OUT) last announced its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.25). The firm had revenue of $459.90 million for the quarter, compared to the consensus estimate of $451.73 million. Outfront Media had a net margin of 9.45% and a return on equity of 14.27%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) earnings per share. Sell-side analysts forecast that Outfront Media Inc will post 2.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.44 annualized dividend and a dividend yield of 5.19%. Outfront Media’s payout ratio is 66.98%.
About Outfront Media
OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.
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