Outfront Media Inc. (OUT) Sees Strong Trading Volume
Outfront Media Inc. (NYSE:OUT) saw an uptick in trading volume on Friday . 893,565 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 752,349 shares.The stock last traded at $21.70 and had previously closed at $21.93.
A number of brokerages have issued reports on OUT. Gabelli began coverage on Outfront Media in a research report on Friday, July 22nd. They issued a “hold” rating and a $29.00 target price on the stock. Wedbush began coverage on Outfront Media in a research report on Thursday, July 21st. They issued a “neutral” rating and a $26.00 target price on the stock. Zacks Investment Research lowered Outfront Media from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, TheStreet raised Outfront Media from a “sell” rating to a “hold” rating in a research report on Wednesday, May 25th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $26.00.
The firm has a 50 day moving average price of $23.31 and a 200-day moving average price of $21.92. The company’s market cap is $3.02 billion.
Outfront Media (NYSE:OUT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.65 by $0.06. The firm had revenue of $385.30 million for the quarter, compared to analyst estimates of $380.11 million. Outfront Media’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 EPS. On average, equities research analysts forecast that Outfront Media Inc. will post $2.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be given a $0.34 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.22%.
A hedge fund recently raised its stake in Outfront Media stock. Stephens Inc. AR raised its stake in shares of Outfront Media Inc. (NYSE:OUT) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,525 shares of the company’s stock after buying an additional 3,105 shares during the period. Stephens Inc. AR owned approximately 0.07% of Outfront Media worth $2,020,000 at the end of the most recent reporting 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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