OUTFRONT Media (NYSE:OUT) Reaches New 1-Year High – Here’s What Happened

OUTFRONT Media Inc. (NYSE:OUT) shares reached a new 52-week high on Monday . The company traded as high as $19.48 and last traded at $19.17, with a volume of 444394 shares. The stock had previously closed at $19.13.

Analysts Set New Price Targets

Several equities research analysts recently commented on OUT shares. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company initiated coverage on shares of OUTFRONT Media in a research note on Thursday, September 19th. They issued an “overweight” rating and a $22.00 target price for the company. Wolfe Research lowered shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Barrington Research reissued an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.25.

OUTFRONT Media Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 4.00. The stock has a fifty day simple moving average of $18.37 and a 200-day simple moving average of $16.29. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.94.

OUTFRONT Media (NYSE:OUT) last announced its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). The company had revenue of $451.90 million for the quarter, compared to the consensus estimate of $456.38 million. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $0.46 EPS. As a group, equities research analysts expect that OUTFRONT Media Inc. will post 1.56 EPS for the current year.

OUTFRONT Media Cuts Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s payout ratio is 87.59%.

Institutional Investors Weigh In On OUTFRONT Media

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in OUTFRONT Media in the 3rd quarter valued at approximately $32,000. Quarry LP raised its stake in shares of OUTFRONT Media by 258.8% in the second quarter. Quarry LP now owns 1,837 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. National Bank of Canada FI bought a new position in OUTFRONT Media in the second quarter worth $28,000. Virtus Fund Advisers LLC acquired a new stake in OUTFRONT Media during the third quarter worth $49,000. Finally, Quest Partners LLC increased its holdings in OUTFRONT Media by 30.0% in the 2nd quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock valued at $62,000 after buying an additional 994 shares during the period.

OUTFRONT Media Company Profile

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.