Outfront Media (OUT) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Outfront Media (NYSE:OUT) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $21.00 price target on the financial services provider’s stock.

According to Zacks, “OUTFRONT Media’s strategic investments for acquisitions and conversions of static billboard displays to digital, in a bid to enhance its digital-billboard portfolio will drive long-term growth. Leveraging on growth in out-of-home (OOH) advertising, the company is expanding its footprint and providing a unique technology platform to marketers. Encouragingly, it is witnessing higher revenues across its billboard, transit, local, national and U.S. Media segments. In fact, its national portfolio of transit assets is attracting advertisers to launch highly-engaging campaigns at distinct locations. Further, the trend in estimate revisions of 2019 funds from operations (FFO) per share indicates a favorable outlook for the company. Yet, seasonality of the business and intense competition remain headwinds. Also, its shares have underperformed the industry over the past six months.”

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Outfront Media from a sell rating to a strong sell rating in a report on Monday, September 24th. Wolfe Research assumed coverage on shares of Outfront Media in a report on Friday, December 7th. They issued an outperform rating and a $25.00 price target for the company. TheStreet raised shares of Outfront Media from a c+ rating to a b- rating in a report on Monday, November 26th. Imperial Capital assumed coverage on shares of Outfront Media in a report on Thursday, September 13th. They issued an inline rating and a $22.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of Outfront Media from $22.00 to $24.00 and gave the company an equal weight rating in a report on Friday, December 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $23.50.

Shares of OUT stock opened at $20.30 on Tuesday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 1.22 and a beta of 1.17. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.92. Outfront Media has a 1-year low of $16.81 and a 1-year high of $22.99.

Outfront Media (NYSE:OUT) last announced its quarterly earnings data on Monday, November 5th. The financial services provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The company had revenue of $414.20 million during the quarter, compared to analyst estimates of $404.37 million. Outfront Media had a net margin of 5.54% and a return on equity of 7.42%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Equities analysts forecast that Outfront Media will post 2.09 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Friday, December 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend was Thursday, December 6th. Outfront Media’s dividend payout ratio (DPR) is presently 72.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of OUT. Gabelli Funds LLC acquired a new position in Outfront Media during the 3rd quarter valued at about $200,000. Cubist Systematic Strategies LLC boosted its stake in Outfront Media by 70.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,826 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 4,467 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Outfront Media during the 3rd quarter valued at about $287,000. Ramsey Quantitative Systems acquired a new position in Outfront Media during the 3rd quarter valued at about $363,000. Finally, Schroder Investment Management Group bought a new stake in shares of Outfront Media during the 3rd quarter worth about $373,000. 98.35% of the stock is owned by institutional investors and hedge funds.

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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