BlackRock Inc. raised its position in Outfront Media Inc (NYSE:OUT) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,736,257 shares of the financial services provider’s stock after buying an additional 27,484 shares during the period. BlackRock Inc. owned 6.09% of Outfront Media worth $225,307,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. ARP Americas LP raised its stake in shares of Outfront Media by 248.2% in the second quarter. ARP Americas LP now owns 39,423 shares of the financial services provider’s stock worth $1,017,000 after acquiring an additional 28,100 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Outfront Media by 210.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 247,666 shares of the financial services provider’s stock worth $6,387,000 after buying an additional 167,890 shares during the last quarter. M&T Bank Corp bought a new stake in shares of Outfront Media during the second quarter worth approximately $319,000. GSA Capital Partners LLP raised its stake in shares of Outfront Media by 18.6% during the second quarter. GSA Capital Partners LLP now owns 16,227 shares of the financial services provider’s stock worth $418,000 after buying an additional 2,544 shares during the last quarter. Finally, Exane Derivatives raised its stake in shares of Outfront Media by 23.5% during the second quarter. Exane Derivatives now owns 8,331 shares of the financial services provider’s stock worth $215,000 after buying an additional 1,585 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.
A number of research firms recently weighed in on OUT. Barrington Research reissued a “buy” rating and set a $29.00 price target on shares of Outfront Media in a research note on Monday, November 11th. Imperial Capital boosted their price target on shares of Outfront Media from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Zacks Investment Research downgraded shares of Outfront Media from a “hold” rating to a “sell” rating and set a $27.00 price target for the company. in a research note on Wednesday, November 20th. Finally, ValuEngine downgraded shares of Outfront Media from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.23.
Shares of NYSE:OUT opened at $24.95 on Tuesday. Outfront Media Inc has a 52 week low of $16.81 and a 52 week high of $28.42. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $3.57 billion, a PE ratio of 11.60, a PEG ratio of 1.36 and a beta of 1.06. The company has a 50 day moving average price of $26.25 and a two-hundred day moving average price of $26.45.
Outfront Media (NYSE:OUT) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.35). The firm had revenue of $462.50 million during the quarter, compared to the consensus estimate of $461.97 million. Outfront Media had a net margin of 8.72% and a return on equity of 13.54%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. On average, sell-side analysts forecast that Outfront Media Inc will post 2.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.77%. The ex-dividend date is Thursday, December 5th. Outfront Media’s dividend payout ratio (DPR) is presently 66.98%.
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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.
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