JPMorgan Chase & Co. Lowers OUTFRONT Media (NYSE:OUT) Price Target to $19.00

OUTFRONT Media (NYSE:OUT) had its price target reduced by JPMorgan Chase & Co. from $20.00 to $19.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 20.75% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company decreased their target price on OUTFRONT Media from $22.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Morgan Stanley dropped their price target on OUTFRONT Media from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Wall Street Zen cut OUTFRONT Media from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Finally, Barrington Research reiterated an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, OUTFRONT Media presently has a consensus rating of “Hold” and a consensus target price of $18.08.

OUTFRONT Media Stock Performance

Shares of NYSE OUT opened at $15.74 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00. The business’s 50 day moving average is $15.40 and its two-hundred day moving average is $17.45. The company has a market cap of $2.63 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.06 and a beta of 1.84. OUTFRONT Media has a 12 month low of $12.95 and a 12 month high of $19.98.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company had revenue of $390.70 million during the quarter, compared to analyst estimates of $396.17 million. On average, equities analysts expect that OUTFRONT Media will post 1.59 EPS for the current year.

Hedge Funds Weigh In On OUTFRONT Media

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in shares of OUTFRONT Media by 132.5% in the 4th quarter. FMR LLC now owns 15,604,202 shares of the financial services provider’s stock worth $276,819,000 after acquiring an additional 8,892,411 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of OUTFRONT Media by 87.8% during the fourth quarter. Cohen & Steers Inc. now owns 5,243,211 shares of the financial services provider’s stock valued at $93,015,000 after acquiring an additional 2,450,632 shares during the last quarter. Benchstone Capital Management LP acquired a new stake in shares of OUTFRONT Media in the fourth quarter valued at approximately $29,038,000. LSV Asset Management increased its holdings in shares of OUTFRONT Media by 6,623.5% in the fourth quarter. LSV Asset Management now owns 1,595,362 shares of the financial services provider’s stock valued at $28,302,000 after purchasing an additional 1,571,634 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in OUTFRONT Media by 79.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,001,402 shares of the financial services provider’s stock worth $35,505,000 after acquiring an additional 886,605 shares during the last quarter.

OUTFRONT Media Company Profile

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.