OUTFRONT Media (NYSE:OUT) Shares Gap Down to $16.04

Shares of OUTFRONT Media Inc. (NYSE:OUT) gapped down prior to trading on Friday . The stock had previously closed at $16.04, but opened at $14.65. OUTFRONT Media shares last traded at $14.59, with a volume of 876,888 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OUT. StockNews.com upgraded OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Barrington Research reaffirmed an “outperform” rating and set a $17.00 price target on shares of OUTFRONT Media in a research report on Friday. Finally, TheStreet raised shares of OUTFRONT Media from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.75.

OUTFRONT Media Price Performance

The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -5.67, a price-to-earnings-growth ratio of 1.04 and a beta of 1.87. The business has a fifty day moving average of $15.75 and a two-hundred day moving average of $13.75. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.67 and a current ratio of 0.67.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.95%. The ex-dividend date of this dividend is Friday, June 7th. OUTFRONT Media’s payout ratio is -45.11%.

Institutional Trading of OUTFRONT Media

Institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in OUTFRONT Media by 94.6% in the 3rd quarter. Raymond James & Associates now owns 30,024 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 14,593 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of OUTFRONT Media by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 1,759,657 shares of the financial services provider’s stock valued at $17,773,000 after buying an additional 7,893 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in OUTFRONT Media by 15.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,628 shares of the financial services provider’s stock worth $309,000 after acquiring an additional 4,154 shares during the period. Mackenzie Financial Corp bought a new position in OUTFRONT Media during the 3rd quarter worth $175,000. Finally, Strs Ohio raised its holdings in OUTFRONT Media by 203.2% in the 3rd quarter. Strs Ohio now owns 596,258 shares of the financial services provider’s stock valued at $6,022,000 after acquiring an additional 399,600 shares in the last quarter.

OUTFRONT Media Company Profile

OUTFRONT 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 will fundamentally change the ways advertisers engage audiences on-the-go.