OUTFRONT Media (NYSE:OUT) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of OUTFRONT Media (NYSE:OUT) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other brokerages have also recently commented on OUT. JPMorgan Chase & Co. initiated coverage on shares of OUTFRONT Media in a research report on Wednesday, July 22nd. They set an “overweight” rating and a $38.00 target price for the company. Wells Fargo & Company raised their price target on OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup reaffirmed a “buy” rating on shares of OUTFRONT Media in a research note on Tuesday, September 8th. Finally, TD Cowen reaffirmed a “buy” rating and set a $40.00 price objective (up from $38.00) on shares of OUTFRONT Media in a research note on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, OUTFRONT Media has an average rating of “Moderate Buy” and a consensus target price of $34.00.

OUTFRONT Media Stock Performance

Shares of NYSE:OUT opened at $31.27 on Friday. The stock has a market capitalization of $5.51 billion, a P/E ratio of 14.01 and a beta of 1.56. OUTFRONT Media has a 1-year low of $19.75 and a 1-year high of $34.96. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50. The business has a 50-day moving average price of $29.71 and a two-hundred day moving average price of $29.73.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, November 5th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $511.10 million for the quarter, compared to analyst estimates of $509.74 million. OUTFRONT Media had a return on equity of 37.44% and a net margin of 12.66%. Equities analysts predict that OUTFRONT Media will post 2.18 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, December 4th. OUTFRONT Media’s payout ratio is presently 89.80%.

Insider Transactions at OUTFRONT Media

In other news, EVP Mark Emilio Bonanni sold 3,385 shares of OUTFRONT Media stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $29.82, for a total transaction of $100,940.70. Following the transaction, the executive vice president owned 10,420 shares in the company, valued at $310,724.40. The trade was a 24.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Matthew Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $27.84, for a total value of $696,000.00. Following the completion of the transaction, the executive vice president owned 264,925 shares of the company’s stock, valued at $7,375,512. This represents a 8.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in OUTFRONT Media by 6.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,211,619 shares of the financial services provider’s stock worth $58,603,000 after buying an additional 133,960 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of OUTFRONT Media by 16.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 248,324 shares of the financial services provider’s stock worth $6,891,000 after buying an additional 35,431 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of OUTFRONT Media by 24.1% in the 1st quarter. California State Teachers Retirement System now owns 177,269 shares of the financial services provider’s stock valued at $4,698,000 after acquiring an additional 34,403 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of OUTFRONT Media by 102.1% in the 1st quarter. First Trust Advisors LP now owns 342,195 shares of the financial services provider’s stock valued at $9,068,000 after acquiring an additional 172,879 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of OUTFRONT Media by 199.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 109,420 shares of the financial services provider’s stock valued at $2,900,000 after acquiring an additional 72,891 shares during the last quarter.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is an out-of-home advertising company that sells advertising space on billboards, transit displays and other outdoor media. Its portfolio includes traditional and digital formats, helping advertisers reach audiences in public spaces and while traveling.

The company operates primarily in the United States and Canada. Its offerings include large-format roadside advertising as well as displays on buses, rail systems and other transit properties.

OUTFRONT Media traces its history to CBS Outdoor Americas, which became an independent public company in 2014 and adopted the OUTFRONT Media name.