Outerwall Inc. (OUTR) Sees Large Volume Increase
Shares of Outerwall Inc. (NASDAQ:OUTR) saw an uptick in trading volume on Thursday . 2,329,558 shares traded hands during mid-day trading, an increase of 144% from the previous session’s volume of 955,794 shares.The stock last traded at $51.82 and had previously closed at $51.96.
A number of research firms recently commented on OUTR. B. Riley reaffirmed a “buy” rating and issued a $58.00 price target on shares of Outerwall in a report on Saturday, July 30th. Craig Hallum cut shares of Outerwall from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Roth Capital cut shares of Outerwall from a “neutral” rating to a “sell” rating and set a $38.00 price target on the stock. in a report on Monday, July 25th. Wedbush cut shares of Outerwall from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Monday, July 25th. They noted that the move was a valuation call. Finally, Dougherty & Co cut shares of Outerwall from a “neutral” rating to a “sell” rating in a report on Monday, July 25th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.50.
The stock has a market capitalization of $839.52 million and a PE ratio of 6.66. The company’s 50-day moving average price is $51.15 and its 200-day moving average price is $41.96.
Outerwall (NASDAQ:OUTR) last posted its quarterly earnings results on Thursday, July 28th. The company reported $2.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $1.04. The firm had revenue of $518 million for the quarter, compared to analysts’ expectations of $487.29 million. During the same quarter in the previous year, the company earned $2.19 EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. Equities research analysts anticipate that Outerwall Inc. will post $7.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, August 19th.
In other news, insider Engaged Capital Llc sold 999,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $52.36, for a total transaction of $52,307,640.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Outerwall Inc is a provider of automated retail solutions. The Company’s business segments are Redbox, Coinstar and ecoATM. Its offerings include Redbox business, which enables consumers to rent or purchase movies and video games from self-service kiosks (Redbox segment); Coinstar business, which enables consumers to convert their coins to cash and convert coins and cash to stored value products at self-service kiosks (Coinstar segment), and ecoATM business, which enables consumers to sell electronic devices for cash at self-service kiosks, and purchase and sell electronic devices for cash through an online solution under its Gazelle brand.
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