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

OUTFRONT Media Inc. (NYSE:OUT) reached a new 52-week high on Friday . The stock traded as high as $24.89 and last traded at $24.8720, with a volume of 123573 shares changing hands. The stock had previously closed at $24.44.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. TD Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Tuesday, November 11th. Morgan Stanley raised OUTFRONT Media from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $28.00 in a research note on Tuesday, December 16th. JPMorgan Chase & Co. raised OUTFRONT Media from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $25.00 in a research note on Wednesday, November 12th. New Street Research set a $24.00 price objective on OUTFRONT Media in a research report on Tuesday, November 11th. Finally, Citigroup reiterated a “buy” rating and issued a $23.00 target price (up previously from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $24.57.

OUTFRONT Media Stock Performance

The firm has a 50 day moving average of $23.41 and a 200-day moving average of $19.94. The company has a market cap of $4.22 billion, a P/E ratio of 37.10, a PEG ratio of 1.26 and a beta of 1.57. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75.

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

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 4.8%. OUTFRONT Media’s dividend payout ratio (DPR) is 176.47%.

Insider Buying and Selling at OUTFRONT Media

In related news, Director Manuel A. Diaz sold 11,270 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 58,786 shares of the company’s stock, valued at $1,303,873.48. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB acquired a new stake in OUTFRONT Media in the second quarter valued at approximately $5,414,000. Moody National Bank Trust Division purchased a new stake in shares of OUTFRONT Media during the 2nd quarter valued at $295,000. Russell Investments Group Ltd. boosted its position in shares of OUTFRONT Media by 26.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 585,338 shares of the financial services provider’s stock worth $9,553,000 after purchasing an additional 121,987 shares in the last quarter. Advisors Capital Management LLC grew its stake in OUTFRONT Media by 36.0% during the 2nd quarter. Advisors Capital Management LLC now owns 1,881,277 shares of the financial services provider’s stock worth $30,702,000 after buying an additional 497,781 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in OUTFRONT Media by 44.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 192,695 shares of the financial services provider’s stock worth $3,145,000 after buying an additional 59,275 shares during the last quarter.

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.