OUTFRONT Media (NYSE:OUT) Sets New 1-Year High After Analyst Upgrade

OUTFRONT Media Inc. (NYSE:OUT)’s share price hit a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $25.00 price target on the stock, up from their previous price target of $19.00. OUTFRONT Media traded as high as $21.88 and last traded at $21.4230, with a volume of 3077267 shares trading hands. The stock had previously closed at $20.97.

Several other research analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Citigroup restated a “buy” rating and issued a $23.00 price objective (up from $20.00) on shares of OUTFRONT Media in a report on Wednesday. Wells Fargo & Company reiterated an “overweight” rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. New Street Research set a $24.00 target price on OUTFRONT Media in a report on Tuesday. Finally, Morgan Stanley upped their price target on OUTFRONT Media from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, OUTFRONT Media has an average rating of “Moderate Buy” and an average price target of $22.00.

Insider Transactions at OUTFRONT Media

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total transaction of $79,961.88. Following the sale, the executive vice president owned 4,170 shares of the company’s stock, valued at $80,814.60. This trade represents a 49.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the transaction, the insider directly owned 8,913,813 shares of the company’s stock, valued at approximately $160,983,462.78. This trade represents a 48.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On OUTFRONT Media

A number of large investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC purchased a new stake in shares of OUTFRONT Media during the first quarter worth about $28,000. Private Trust Co. NA acquired a new stake in OUTFRONT Media in the 3rd quarter worth about $33,000. Caitong International Asset Management Co. Ltd boosted its holdings in OUTFRONT Media by 158.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,041 shares during the last quarter. IFP Advisors Inc increased its stake in OUTFRONT Media by 97.6% during the 1st quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider’s stock worth $113,000 after buying an additional 3,313 shares in the last quarter. Finally, Rossby Financial LCC raised its holdings in shares of OUTFRONT Media by 42.4% during the second quarter. Rossby Financial LCC now owns 6,953 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,071 shares during the last quarter.

OUTFRONT Media Stock Performance

The firm has a market cap of $3.58 billion, a PE ratio of 31.50, a P/E/G ratio of 1.23 and a beta of 1.82. The firm has a 50-day moving average price of $18.32 and a two-hundred day moving average price of $17.46. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 4.75.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.21). OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The firm had revenue of $467.50 million during the quarter, compared to analyst estimates of $458.32 million. During the same period in the prior year, the company posted $0.19 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, December 5th. OUTFRONT Media’s payout ratio is currently 176.47%.

About OUTFRONT Media

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.