Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Outfront Media Inc (NYSE:OUT) by 17.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,761 shares of the financial services provider’s stock after selling 1,607 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Outfront Media were worth $182,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc lifted its holdings in Outfront Media by 6.6% in the 3rd quarter. Vanguard Group Inc now owns 19,594,607 shares of the financial services provider’s stock worth $390,912,000 after buying an additional 1,216,208 shares in the last quarter. FMR LLC lifted its holdings in Outfront Media by 0.7% in the 4th quarter. FMR LLC now owns 12,076,469 shares of the financial services provider’s stock worth $218,825,000 after buying an additional 83,818 shares in the last quarter. Thornburg Investment Management Inc. lifted its holdings in Outfront Media by 8.0% in the 4th quarter. Thornburg Investment Management Inc. now owns 3,327,100 shares of the financial services provider’s stock worth $60,287,000 after buying an additional 246,100 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Outfront Media by 14.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,988,171 shares of the financial services provider’s stock worth $36,026,000 after buying an additional 258,273 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Outfront Media by 339.2% in the 4th quarter. Millennium Management LLC now owns 1,941,788 shares of the financial services provider’s stock worth $35,185,000 after buying an additional 1,499,713 shares in the last quarter. Hedge funds and other institutional investors own 95.48% of the company’s stock.
Shares of Outfront Media stock opened at $25.50 on Friday. The stock has a market capitalization of $3.61 billion, a PE ratio of 11.86, a P/E/G ratio of 1.51 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.07. Outfront Media Inc has a 1 year low of $16.81 and a 1 year high of $25.93.
Outfront Media (NYSE:OUT) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.23). The company had revenue of $371.70 million during the quarter, compared to analyst estimates of $364.55 million. Outfront Media had a net margin of 6.40% and a return on equity of 9.36%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. Sell-side analysts forecast that Outfront Media Inc will post 2.3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.65%. Outfront Media’s dividend payout ratio (DPR) is presently 66.98%.
In other news, CEO Jeremy J. Male sold 80,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.54, for a total value of $1,883,200.00. Following the sale, the chief executive officer now owns 392,703 shares in the company, valued at approximately $9,244,228.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.
A number of equities analysts have commented on OUT shares. Citigroup lowered shares of Outfront Media from a “buy” rating to a “neutral” rating and set a $20.81 price objective on the stock. in a report on Thursday, January 31st. Zacks Investment Research lowered shares of Outfront Media from a “buy” rating to a “hold” rating in a report on Monday, January 28th. Barrington Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Outfront Media in a report on Wednesday, February 27th. CIBC assumed coverage on shares of Outfront Media in a research note on Friday, March 29th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Oppenheimer assumed coverage on shares of Outfront Media in a research note on Thursday, March 28th. They issued a “buy” rating and a $30.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Outfront Media currently has an average rating of “Buy” and a consensus target price of $26.09.
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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