State Street Corp lifted its position in shares of Outfront Media Inc (NYSE:OUT) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,002,687 shares of the financial services provider’s stock after acquiring an additional 81,173 shares during the quarter. State Street Corp owned approximately 1.40% of Outfront Media worth $55,635,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OUT. Hillsdale Investment Management Inc. acquired a new stake in shares of Outfront Media during the 2nd quarter valued at $41,000. Marshall Wace North America L.P. acquired a new stake in shares of Outfront Media during the 1st quarter valued at $44,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Outfront Media during the 2nd quarter valued at $45,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Outfront Media during the 3rd quarter valued at $61,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Outfront Media by 94.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,820 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 1,855 shares in the last quarter. 93.69% of the stock is currently owned by institutional investors.
OUT has been the topic of several recent research reports. Barrington Research reaffirmed a “buy” rating and set a $29.00 target price on shares of Outfront Media in a report on Monday, November 11th. Imperial Capital lifted their target price on Outfront Media from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Zacks Investment Research downgraded Outfront Media from a “hold” rating to a “sell” rating and set a $27.00 target price on the stock. in a report on Wednesday, November 20th. Finally, ValuEngine downgraded Outfront Media from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.14.
Shares of OUT opened at $25.30 on Friday. The company has a market capitalization of $3.65 billion, a PE ratio of 11.77, a PEG ratio of 1.39 and a beta of 1.02. Outfront Media Inc has a 12 month low of $16.81 and a 12 month high of $28.42. The stock’s 50-day moving average price is $25.47 and its two-hundred day moving average price is $26.45. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 3.06.
Outfront Media (NYSE:OUT) last announced 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 company had revenue of $462.50 million for the quarter, compared to analyst estimates of $461.97 million. Outfront Media had a return on equity of 13.54% and a net margin of 8.72%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. Equities research analysts predict that Outfront Media Inc will post 2.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.69%. The ex-dividend date is Thursday, December 5th. Outfront Media’s payout ratio is presently 66.98%.
Outfront Media 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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