OUTFRONT Media (NYSE:OUT) Sets New 1-Year High – Time to Buy?

OUTFRONT Media Inc. (NYSE:OUT) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $25.48 and last traded at $25.3350, with a volume of 1076823 shares changing hands. The stock had previously closed at $24.61.

Analysts Set New Price Targets

OUT has been the subject of several research reports. New Street Research set a $24.00 price objective on OUTFRONT Media in a research note on Tuesday, November 11th. JPMorgan Chase & Co. upgraded OUTFRONT Media from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $25.00 in a research report on Wednesday, November 12th. Wall Street Zen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Morgan Stanley upgraded shares of OUTFRONT Media from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $28.00 in a research report on Tuesday, December 16th. Finally, TD Cowen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Tuesday, November 11th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.57.

OUTFRONT Media Trading Up 2.9%

The business has a fifty day moving average price of $23.66 and a two-hundred day moving average price of $20.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 4.75. The firm has a market capitalization of $4.24 billion, a PE ratio of 37.26, a PEG ratio of 1.24 and a beta of 1.57.

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

OUTFRONT Media Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.7%. OUTFRONT Media’s payout ratio is presently 176.47%.

Insider Activity

In related news, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $24.49, for a total transaction of $276,026.79. Following the transaction, the director owned 47,515 shares of the company’s stock, valued at approximately $1,163,642.35. This represents a 19.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of OUTFRONT Media

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc grew its stake in OUTFRONT Media by 16.5% in the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 582 shares during the period. Arizona State Retirement System lifted its stake in shares of OUTFRONT Media by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 42,023 shares of the financial services provider’s stock worth $770,000 after purchasing an additional 591 shares during the period. CWM LLC boosted its holdings in shares of OUTFRONT Media by 8.3% during the third quarter. CWM LLC now owns 8,229 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 631 shares during the last quarter. GAMMA Investing LLC grew its position in shares of OUTFRONT Media by 8.2% in the fourth quarter. GAMMA Investing LLC now owns 9,020 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 682 shares during the period. Finally, Maryland State Retirement & Pension System grew its position in shares of OUTFRONT Media by 1.8% in the second quarter. Maryland State Retirement & Pension System now owns 40,753 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 740 shares during the period.

About OUTFRONT Media

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.