Outfront Media (OUT) Upgraded to Buy by Zacks Investment Research
Outfront Media (NYSE:OUT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $26.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.07% from the company’s current price.
According to Zacks, “Shares of Outfront Media have outperformed its industry in the past month. Notably, the company is making diligent efforts to expand its digital display portfolio. It has resorted to acquisitions, swaps and conversion of traditional static billboard displays to digital billboard displays to focus on this low-cost out-of-home (OOH) platform. These strategic efforts bode well for its long-term growth. Also, the company is strengthening its technology platform to grow its client base and leverage on the fragmented OOH industry. Further, its huge geographic diversity, both industry and geographical wise, makes its revenues less volatile. However, the dreary environment in the national advertising market remains a risk.”
Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Outfront Media from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Loop Capital reaffirmed a “buy” rating and set a $28.00 price target (up previously from $27.00) on shares of Outfront Media in a research note on Thursday, September 28th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $30.00 price target on shares of Outfront Media in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $29.57.
Shares of Outfront Media (NYSE OUT) traded up $0.18 on Tuesday, hitting $23.20. 571,000 shares of the company traded hands, compared to its average volume of 850,994. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $3,216.36, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.83 and a beta of 1.13. Outfront Media has a fifty-two week low of $20.82 and a fifty-two week high of $27.89.
Outfront Media (NYSE:OUT) last announced its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.20). The firm had revenue of $392.40 million for the quarter, compared to analysts’ expectations of $391.18 million. Outfront Media had a net margin of 7.71% and a return on equity of 9.57%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. equities research analysts expect that Outfront Media will post 1.98 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the business. Utah Retirement Systems raised its stake in shares of Outfront Media by 62.9% in the 2nd quarter. Utah Retirement Systems now owns 41,001 shares of the financial services provider’s stock valued at $948,000 after acquiring an additional 15,837 shares during the period. Legal & General Group Plc raised its stake in shares of Outfront Media by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 126,737 shares of the financial services provider’s stock valued at $2,931,000 after acquiring an additional 6,531 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of Outfront Media by 105.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 21,470 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 11,030 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Outfront Media by 2.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,092,657 shares of the financial services provider’s stock valued at $25,263,000 after acquiring an additional 27,119 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Outfront Media by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,686,258 shares of the financial services provider’s stock valued at $270,185,000 after acquiring an additional 535,730 shares during the period.
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About Outfront Media
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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