Outfront Media Inc. (NYSE:OUT) Sees Significant Increase in Short Interest

Outfront Media Inc. (NYSE:OUTGet Rating) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 7,560,000 shares, a growth of 65.8% from the March 15th total of 4,560,000 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average trading volume of 1,320,000 shares, the days-to-cover ratio is currently 5.7 days.

A number of research analysts have recently weighed in on OUT shares. Wolfe Research started coverage on Outfront Media in a report on Tuesday, March 29th. They set an “outperform” rating and a $34.00 price target on the stock. Zacks Investment Research downgraded Outfront Media from a “strong-buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a report on Tuesday, January 4th. StockNews.com started coverage on Outfront Media in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Morgan Stanley lifted their price objective on Outfront Media from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, March 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Outfront Media has a consensus rating of “Buy” and a consensus price target of $30.33.

Shares of NYSE:OUT traded down $0.05 on Friday, reaching $27.18. The company had a trading volume of 876,111 shares, compared to its average volume of 1,130,642. Outfront Media has a twelve month low of $20.76 and a twelve month high of $29.36. The stock has a 50-day moving average price of $26.96 and a 200 day moving average price of $26.23. The stock has a market capitalization of $3.97 billion, a P/E ratio of 1,359.00 and a beta of 1.73. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.60.

Outfront Media (NYSE:OUTGet Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Outfront Media had a return on equity of 3.75% and a net margin of 2.43%. The company had revenue of $464.40 million during the quarter, compared to analyst estimates of $444.70 million. During the same period in the prior year, the firm earned $0.35 EPS. Outfront Media’s quarterly revenue was up 38.3% on a year-over-year basis. On average, sell-side analysts predict that Outfront Media will post 1.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Friday, March 4th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.42%. This is a boost from Outfront Media’s previous quarterly dividend of $0.10. Outfront Media’s payout ratio is currently 6,000.00%.

Several large investors have recently made changes to their positions in OUT. Royal Bank of Canada boosted its position in shares of Outfront Media by 220.2% in the third quarter. Royal Bank of Canada now owns 77,397 shares of the financial services provider’s stock valued at $1,950,000 after acquiring an additional 53,225 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Outfront Media by 13.2% in the third quarter. UBS Asset Management Americas Inc. now owns 213,737 shares of the financial services provider’s stock valued at $5,386,000 after acquiring an additional 24,928 shares during the period. Eagle Bay Advisors LLC boosted its position in shares of Outfront Media by 78.9% in the third quarter. Eagle Bay Advisors LLC now owns 3,400 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 1,500 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Outfront Media in the third quarter valued at approximately $234,000. Finally, AlphaCrest Capital Management LLC bought a new stake in shares of Outfront Media in the third quarter valued at approximately $205,000. 97.88% of the stock is owned by institutional investors.

Outfront Media Company Profile (Get Rating)

Outfront Media Inc 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 Media Inc will fundamentally change the ways advertisers engage audiences on-the-go.

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