Dimensional Fund Advisors LP Reduces Stake in Outfront Media Inc. (NYSE:OUT)

Dimensional Fund Advisors LP lowered its holdings in Outfront Media Inc. (NYSE:OUT – Get Rating) by 3.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,952,811 shares of the financial services provider’s stock after selling 73,399 shares during the quarter. Dimensional Fund Advisors LP owned about 1.19% of Outfront Media worth $29,664,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Outfront Media by 3.2% in the 1st quarter. BlackRock Inc. now owns 19,931,847 shares of the financial services provider’s stock valued at $566,663,000 after acquiring an additional 610,565 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Outfront Media by 3.6% in the 2nd quarter. Macquarie Group Ltd. now owns 5,234,424 shares of the financial services provider’s stock valued at $88,724,000 after purchasing an additional 182,613 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Outfront Media by 6.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,795,195 shares of the financial services provider’s stock valued at $81,279,000 after purchasing an additional 288,219 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Outfront Media by 19.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,287,920 shares of the financial services provider’s stock valued at $72,680,000 after purchasing an additional 695,352 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Outfront Media by 23.8% in the 1st quarter. Invesco Ltd. now owns 3,788,625 shares of the financial services provider’s stock valued at $107,710,000 after purchasing an additional 728,105 shares during the period.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup decreased their target price on Outfront Media from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, February 27th. JPMorgan Chase & Co. decreased their target price on Outfront Media from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, February 23rd. Morgan Stanley decreased their price objective on Outfront Media from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, December 19th. Barrington Research reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Outfront Media in a research report on Thursday, February 23rd. Finally, StockNews.com cut Outfront Media from a “hold” rating to a “sell” rating in a research report on Friday, November 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Outfront Media Stock Up 1.4 %

OUT opened at $17.39 on Friday. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $18.50 and a 200-day simple moving average of $17.88. The stock has a market capitalization of $2.87 billion, a P/E ratio of 21.17, a P/E/G ratio of 0.93 and a beta of 1.72. Outfront Media Inc. has a 12 month low of $14.97 and a 12 month high of $29.36.

Outfront Media (NYSE:OUT – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.30). The business had revenue of $494.70 million during the quarter, compared to analyst estimates of $495.37 million. Outfront Media had a net margin of 8.35% and a return on equity of 12.13%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. On average, equities analysts anticipate that Outfront Media Inc. will post 1.87 earnings per share for the current fiscal year.

Outfront Media Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be issued a $0.30 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $1.20 annualized dividend and a dividend yield of 6.90%. Outfront Media’s dividend payout ratio is currently 148.15%.

About Outfront Media

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OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.