Outfront Media Inc. (OUT) Sees Unusually-High Trading Volume
Outfront Media Inc. (NYSE:OUT) shares saw strong trading volume on Friday . 893,565 shares changed hands 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 analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Outfront Media from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. Wedbush assumed coverage on shares of Outfront Media in a report on Thursday, July 21st. They issued a “neutral” rating and a $26.00 price target for the company. Gabelli assumed coverage on shares of Outfront Media in a report on Friday, July 22nd. They issued a “hold” rating and a $29.00 price target for the company. Finally, TheStreet raised shares of Outfront Media from a “sell” rating to a “hold” rating in a report on Wednesday, May 25th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Outfront Media currently has an average rating of “Hold” and a consensus price target of $26.00.
The firm’s market cap is $3.02 billion. The stock’s 50-day moving average price is $23.25 and its 200 day moving average price is $21.93.
Outfront Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.06. The business had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $380.11 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm’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 disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Wednesday, September 7th.
An institutional investor recently raised its position in Outfront Media stock. Stephens Inc. AR raised its position in shares of Outfront Media Inc. (NYSE:OUT) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,525 shares of the company’s stock after buying an additional 3,105 shares during the period. Stephens Inc. AR owned about 0.07% of Outfront Media worth $2,020,000 as of its most recent filing with the SEC.
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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