Outfront Media (NYSE:OUT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $26.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.29% from the stock’s previous close.
According to Zacks, “Shares of Outfront Media have outperformed its industry in the past month. Notably, the company is making diligent efforts to expand its digital display portfolio. It has resorted to acquisitions, swaps and conversion of traditional static billboard displays to digital billboard displays to focus on this low-cost out-of-home (OOH) platform. These strategic efforts bode well for its long-term growth. Also, the company is strengthening its technology platform to grow its client base and leverage on the fragmented OOH industry. Further, its huge geographic diversity, both industry and geographical wise, makes its revenues less volatile. However, the dreary environment in the national advertising market remains a risk.”
A number of other equities research analysts have also weighed in on OUT. ValuEngine raised shares of Outfront Media from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Loop Capital reissued a “buy” rating and set a $28.00 target price (up from $27.00) on shares of Outfront Media in a report on Thursday, September 28th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $30.00 target price on shares of Outfront Media in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $29.57.
Outfront Media (NYSE OUT) traded down $0.21 on Tuesday, reaching $22.95. 448,200 shares of the company’s stock were exchanged, compared to its average volume of 422,550. Outfront Media has a 52-week low of $20.82 and a 52-week high of $27.89. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.73. The company has a market cap of $3,210.82, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13.
Outfront Media (NYSE:OUT) last posted its earnings results on Monday, November 6th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.20). Outfront Media had a return on equity of 9.57% and a net margin of 7.71%. The business had revenue of $392.40 million for the quarter, compared to the consensus estimate of $391.18 million. During the same period in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. research analysts expect that Outfront Media will post 1.98 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of OUT. Utah Retirement Systems increased its stake in Outfront Media by 62.9% during the 2nd quarter. Utah Retirement Systems now owns 41,001 shares of the financial services provider’s stock valued at $948,000 after purchasing an additional 15,837 shares in the last quarter. Legal & General Group Plc increased its stake in Outfront Media by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 126,737 shares of the financial services provider’s stock valued at $2,931,000 after purchasing an additional 6,531 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Outfront Media by 105.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 21,470 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 11,030 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Outfront Media by 2.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,092,657 shares of the financial services provider’s stock valued at $25,263,000 after purchasing an additional 27,119 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Outfront Media by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 11,686,258 shares of the financial services provider’s stock valued at $270,185,000 after purchasing an additional 535,730 shares in the last quarter.
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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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