Outfront Media Inc (OUT) Sees Unusually-High Trading Volume
Shares of Outfront Media Inc (NYSE:OUT) saw strong trading volume on Tuesday . 1,071,436 shares changed hands 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.
Several equities analysts have 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 research note 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 target price 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 target price 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 company. The company presently has a consensus rating of “Hold” and a consensus price target of $26.00.
The company has a 50-day moving average price of $23.60 and a 200-day moving average price of $21.89. The company’s market capitalization is $3.07 billion.
Outfront Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.06. During the same quarter in the previous year, the business posted $0.16 earnings per share. The business earned $385.30 million during the quarter, compared to analysts’ expectations of $380.11 million. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts predict that Outfront Media Inc will post $2.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend is Wednesday, September 7th.
Other institutional investors have modified their holdings of the company. Foresters Investment Management Company Inc. raised its position in shares of 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 raised 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 period. Atlantic Trust Group LLC raised 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 period. Finally, Cornerstone Capital Management Holdings LLC. raised 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 period.
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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