Outfront Media Inc. (OUT) Sees Strong Trading Volume
Shares of Outfront Media Inc. (NYSE:OUT) saw strong trading volume on Tuesday . 1,071,436 shares were traded during trading, an increase of 75% from the previous session’s volume of 613,405 shares.The stock last traded at $22.27 and had previously closed at $22.33.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Outfront Media from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. Wedbush started coverage on shares of Outfront Media in a research note on Thursday, July 21st. They issued a “neutral” rating and a $26.00 price objective for the company. Gabelli started coverage on shares of Outfront Media in a research note on Friday, July 22nd. They issued a “hold” rating and a $29.00 price objective for the company. Finally, TheStreet raised shares of Outfront Media from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th. Five research 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 “Hold” and an average target price of $26.00.
The firm’s 50-day moving average price is $23.53 and its 200-day moving average price is $21.90. The firm’s market cap is $3.08 billion.
Outfront Media (NYSE:OUT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.06. The firm had revenue of $385.30 million for the quarter, compared to the consensus estimate of $380.11 million. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. Analysts forecast that Outfront Media Inc. will post $2.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend is Wednesday, September 7th.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Foresters Investment Management Company Inc. boosted its position in Outfront Media by 15.5% in the fourth quarter. Foresters Investment Management Company Inc. now owns 177,099 shares of the company’s stock valued at $3,866,000 after buying an additional 23,800 shares during the period. Stephens Inc. AR boosted its position in shares of Outfront Media by 3.5% in the fourth quarter. Stephens Inc. AR now owns 92,525 shares of the company’s stock valued at $2,020,000 after buying an additional 3,105 shares during the last quarter. Atlantic Trust Group LLC boosted its position in shares of Outfront Media by 16.6% in the fourth quarter. Atlantic Trust Group LLC now owns 50,596 shares of the company’s stock valued at $1,105,000 after buying an additional 7,215 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in shares of Outfront Media by 689.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 179,588 shares of the company’s stock valued at $3,920,000 after buying an additional 156,827 shares during the last quarter.
OUTFRONT Media Inc, formerly CBS Outdoor Americas Inc, is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments.
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