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

Shares of OUTFRONT Media Inc. (NYSE:OUT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $23.09 and last traded at $22.7610, with a volume of 2121051 shares. The stock had previously closed at $22.89.

Wall Street Analyst Weigh In

OUT has been the subject of a number of research analyst reports. Wall Street Zen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. JPMorgan Chase & Co. upgraded OUTFRONT Media from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $25.00 in a research note on Wednesday, November 12th. TD Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Tuesday, November 11th. Citigroup reiterated a “buy” rating and issued a $23.00 price objective (up previously from $20.00) on shares of OUTFRONT Media in a report on Wednesday, November 12th. Finally, Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

OUTFRONT Media Trading Down 1.0%

The company’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $17.95. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 1.32 and a beta of 1.82.

OUTFRONT Media (NYSE:OUT) last released its earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The company had revenue of $467.50 million during the quarter, compared to analysts’ expectations of $458.32 million. During the same quarter last year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, research analysts expect that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 5.2%. OUTFRONT Media’s payout ratio is currently 176.47%.

Insider Buying and Selling

In other news, Director Manuel A. Diaz sold 11,270 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $22.18, for a total value of $249,968.60. Following the sale, the director directly owned 58,786 shares in the company, valued at approximately $1,303,873.48. This trade represents a 16.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the sale, the insider directly owned 8,913,813 shares of the company’s stock, valued at approximately $160,983,462.78. This trade represents a 48.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of OUTFRONT Media

A number of institutional investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new position in shares of OUTFRONT Media in the 3rd quarter valued at about $272,000. Advisory Services Network LLC purchased a new stake in OUTFRONT Media during the third quarter worth approximately $29,000. NewEdge Advisors LLC acquired a new position in OUTFRONT Media in the third quarter valued at approximately $260,000. Woodline Partners LP purchased a new position in OUTFRONT Media in the third quarter valued at approximately $13,705,000. Finally, Mariner LLC increased its stake in OUTFRONT Media by 37.7% in the third quarter. Mariner LLC now owns 63,610 shares of the financial services provider’s stock valued at $1,165,000 after purchasing an additional 17,408 shares during the last quarter.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.