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

OUTFRONT Media Inc. (NYSE:OUT)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $30.50 and last traded at $30.25, with a volume of 871571 shares changing hands. The stock had previously closed at $30.35.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Cowen lifted their target price on shares of OUTFRONT Media from $24.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Barrington Research lifted their target price on shares of OUTFRONT Media from $27.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Zacks Research cut shares of OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company upped their target price on shares of OUTFRONT Media from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, OUTFRONT Media currently has a consensus rating of “Moderate Buy” and an average price target of $27.86.

OUTFRONT Media Stock Down 0.3%

The business’s fifty day moving average price is $27.44 and its 200 day moving average price is $24.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.63. The firm has a market capitalization of $5.33 billion, a PE ratio of 37.81, a PEG ratio of 1.46 and a beta of 1.51.

OUTFRONT Media (NYSE:OUT) last announced its earnings results on Wednesday, February 25th. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.16). OUTFRONT Media had a net margin of 8.03% and a return on equity of 24.86%. The business had revenue of $513.30 million during the quarter, compared to analysts’ expectations of $511.61 million. On average, equities research analysts forecast that OUTFRONT Media Inc. will post 2.07 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. OUTFRONT Media’s payout ratio is presently 150.00%.

Insider Transactions at OUTFRONT Media

In related news, Director Manuel A. Diaz sold 11,271 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $26.93, for a total value of $303,528.03. Following the completion of the sale, the director owned 36,244 shares in the company, valued at $976,050.92. This trade represents a 23.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew Siegel sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the completion of the sale, the executive vice president owned 289,925 shares of the company’s stock, valued at approximately $7,477,165.75. The trade was a 14.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On OUTFRONT Media

A number of hedge funds have recently added to or reduced their stakes in OUT. Advisory Services Network LLC acquired a new stake in OUTFRONT Media in the third quarter valued at about $29,000. Private Trust Co. NA acquired a new stake in OUTFRONT Media in the third quarter valued at about $33,000. Farther Finance Advisors LLC lifted its position in OUTFRONT Media by 157.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,431 shares during the period. Kestra Advisory Services LLC acquired a new stake in OUTFRONT Media in the fourth quarter valued at about $71,000. Finally, IFP Advisors Inc lifted its position in OUTFRONT Media by 16.5% in the third quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 582 shares during the period.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.