OUTFRONT Media (NYSE:OUT) Sets New 12-Month High – Here’s What Happened

OUTFRONT Media Inc. (NYSE:OUT) shares reached a new 52-week high during trading on Monday . The company traded as high as $31.85 and last traded at $31.6310, with a volume of 488 shares trading hands. The stock had previously closed at $31.71.

Wall Street Analysts Forecast Growth

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

OUTFRONT Media Stock Performance

The stock has a market cap of $5.56 billion, a P/E ratio of 39.56, a PEG ratio of 1.53 and a beta of 1.50. The business has a 50 day moving average price of $28.15 and a 200 day moving average price of $24.70. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.63.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.16). OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The firm had revenue of $513.30 million during the quarter, compared to the consensus estimate of $511.61 million. As a group, sell-side analysts expect that OUTFRONT Media Inc. will post 2.07 EPS for the current year.

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 6th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.20 annualized dividend and a yield of 3.8%. OUTFRONT Media’s dividend payout ratio is 150.00%.

Insider Activity at OUTFRONT Media

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OUT. AQR Capital Management LLC grew its stake in OUTFRONT Media by 9.3% in the first quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider’s stock worth $2,105,000 after purchasing an additional 11,073 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in OUTFRONT Media by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider’s stock worth $1,388,000 after purchasing an additional 1,739 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in OUTFRONT Media by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock worth $80,393,000 after buying an additional 448,993 shares during the period. Empowered Funds LLC lifted its holdings in OUTFRONT Media by 12.4% during the first quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider’s stock worth $345,000 after buying an additional 2,357 shares during the period. Finally, Woodline Partners LP lifted its holdings in OUTFRONT Media by 45.6% during the first quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider’s stock worth $595,000 after buying an additional 11,559 shares during the period.

About OUTFRONT Media

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.