Key Points
- Director Manuel Diaz sold 11,271 shares at an average price of $26.93 on March 23 for $303,528.03, trimming his stake by 23.72% to 36,244 shares valued at about $976,050.92.
- OUTFRONT declared a quarterly dividend of $0.30 payable March 31 (annualized $1.20), implying a 4.4% yield and a payout ratio of 150%.
- Company results were mixed: OUTFRONT missed EPS estimates ($0.55 vs. $0.71) while revenue of $513.3M slightly topped expectations, and analysts maintain a consensus "Moderate Buy" with an average price target of $27.86 after several upgrades.
OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) Director Manuel Diaz sold 11,271 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $26.93, for a total transaction of $303,528.03. Following the completion of the sale, the director directly owned 36,244 shares of the company's stock, valued at $976,050.92. The trade was a 23.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
OUTFRONT Media Stock Performance
NYSE:OUT opened at $27.41 on Tuesday. The company has a 50-day moving average of $26.22 and a 200-day moving average of $22.67. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 1.29 and a beta of 1.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.63. OUTFRONT Media Inc. has a twelve month low of $12.95 and a twelve month high of $29.27.
OUTFRONT Media (NYSE:OUT - Get Free Report) last released its earnings results on Wednesday, February 25th. The financial services provider reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.16). OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The business had revenue of $513.30 million during the quarter, compared to the consensus estimate of $511.61 million. Analysts forecast that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.
OUTFRONT Media Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $0.30 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.20 annualized dividend and a yield of 4.4%. OUTFRONT Media's payout ratio is 150.00%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Zacks Research downgraded OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Morgan Stanley upgraded OUTFRONT Media from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $20.00 to $28.00 in a report on Tuesday, December 16th. TD Cowen upped their target price on OUTFRONT Media from $24.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Wells Fargo & Company increased their price target on OUTFRONT Media from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, February 27th. Finally, Barrington Research lifted their price target on OUTFRONT Media from $27.00 to $33.00 and gave the stock an "outperform" rating in a research note on Monday, March 2nd. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, OUTFRONT Media currently has a consensus rating of "Moderate Buy" and an average price target of $27.86.
Check Out Our Latest Research Report on OUTFRONT Media
Hedge Funds Weigh In On OUTFRONT Media
Several institutional investors and hedge funds have recently added to or reduced their stakes in OUT. Versor Investments LP acquired a new stake in OUTFRONT Media during the 3rd quarter worth about $1,259,000. GRS Advisors LLC increased its holdings in shares of OUTFRONT Media by 12.8% in the 3rd quarter. GRS Advisors LLC now owns 2,468,232 shares of the financial services provider's stock valued at $45,218,000 after purchasing an additional 279,326 shares during the period. Pacific Heights Asset Management LLC lifted its position in shares of OUTFRONT Media by 40.0% in the third quarter. Pacific Heights Asset Management LLC now owns 700,000 shares of the financial services provider's stock worth $12,824,000 after purchasing an additional 200,000 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of OUTFRONT Media by 41.9% in the third quarter. Nordea Investment Management AB now owns 474,055 shares of the financial services provider's stock worth $8,670,000 after purchasing an additional 140,060 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of OUTFRONT Media by 26.3% during the second quarter. Russell Investments Group Ltd. now owns 585,338 shares of the financial services provider's stock worth $9,553,000 after purchasing an additional 121,987 shares during the period.
OUTFRONT Media Company Profile
(
Get Free Report)
OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.
Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.
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