Zacks Investment Research upgraded shares of Outfront Media (NYSE:OUT) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $21.00 price target on the financial services provider’s stock.
According to Zacks, “OUTFRONT Media’s strategic investments for acquisitions and conversions of static billboard displays to digital, in a bid to enhance its digital-billboard portfolio will drive long-term growth. Leveraging on growth in out-of-home (OOH) advertising, the company is expanding its footprint and providing a unique technology platform to marketers. Encouragingly, it is witnessing higher revenues across its billboard, transit, local, national and U.S. Media segments. In fact, its national portfolio of transit assets is attracting advertisers to launch highly-engaging campaigns at distinct locations. Further, the trend in estimate revisions of 2019 funds from operations (FFO) per share indicates a favorable outlook for the company. Yet, seasonality of the business and intense competition remain headwinds. Also, its shares have underperformed the industry over the past six months.”
Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Outfront Media from a sell rating to a strong sell rating in a report on Monday, September 24th. Wolfe Research began coverage on Outfront Media in a report on Friday, December 7th. They issued an outperform rating and a $25.00 price objective on the stock. TheStreet upgraded Outfront Media from a c+ rating to a b- rating in a report on Monday, November 26th. Imperial Capital began coverage on Outfront Media in a report on Thursday, September 13th. They issued an inline rating and a $22.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on Outfront Media from $22.00 to $24.00 and gave the stock an equal weight rating in a report on Friday, December 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $23.50.
Shares of OUT traded up $0.06 during trading hours on Tuesday, reaching $20.19. The company’s stock had a trading volume of 20,242 shares, compared to its average volume of 1,219,971. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 1.22 and a beta of 1.17. Outfront Media has a 1-year low of $16.81 and a 1-year high of $22.99. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.08 and a quick ratio of 1.08.
Outfront Media (NYSE:OUT) last issued its earnings results on Monday, November 5th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $414.20 million for the quarter, compared to the consensus estimate of $404.37 million. Outfront Media had a return on equity of 7.42% and a net margin of 5.54%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Equities research analysts expect that Outfront Media will post 2.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Friday, December 7th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $1.44 annualized dividend and a yield of 7.13%. Outfront Media’s dividend payout ratio (DPR) is presently 72.00%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Gabelli Funds LLC bought a new stake in shares of Outfront Media in the third quarter valued at approximately $200,000. Cubist Systematic Strategies LLC boosted its position in shares of Outfront Media by 70.2% in the second quarter. Cubist Systematic Strategies LLC now owns 10,826 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 4,467 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Outfront Media in the third quarter valued at approximately $287,000. Ramsey Quantitative Systems bought a new stake in shares of Outfront Media in the third quarter valued at approximately $363,000. Finally, Schroder Investment Management Group bought a new stake in shares of Outfront Media in the third quarter valued at approximately $373,000. 98.35% of the stock is owned by institutional investors.
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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