OUTFRONT Media Inc. (NYSE:OUT) Stock Has Consensus Price Target of $34.00 According to Analysts

OUTFRONT Media Inc. (NYSE:OUT) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $34.00.

Several brokerages recently issued reports on OUT. Wells Fargo & Company increased their price target on OUTFRONT Media from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating and issued a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a research report on Thursday, August 6th. Citigroup reiterated a “buy” rating on shares of OUTFRONT Media in a research note on Tuesday, September 8th. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $38.00 target price on shares of OUTFRONT Media in a report on Wednesday, July 22nd.

OUTFRONT Media Price Performance

OUT opened at $28.62 on Wednesday. OUTFRONT Media has a 52-week low of $16.97 and a 52-week high of $34.96. The company has a 50 day moving average of $29.64 and a two-hundred day moving average of $30.39. The company has a market cap of $5.04 billion, a P/E ratio of 20.59 and a beta of 1.53. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.50.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. The business had revenue of $522.50 million for the quarter, compared to the consensus estimate of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. On average, analysts expect that OUTFRONT Media will post 2.18 earnings per share for the current year.

OUTFRONT Media Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.6%. This is a positive change from OUTFRONT Media’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, September 4th. OUTFRONT Media’s dividend payout ratio is 94.96%.

Insiders Place Their Bets

In related news, EVP Mark Emilio Bonanni sold 3,385 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $29.82, for a total transaction of $100,940.70. Following the completion of the sale, the executive vice president directly owned 10,420 shares of the company’s stock, valued at approximately $310,724.40. This trade represents a 24.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Siegel sold 25,000 shares of OUTFRONT Media stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $27.84, for a total transaction of $696,000.00. Following the sale, the executive vice president directly owned 264,925 shares in the company, valued at $7,375,512. This trade represents a 8.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of OUTFRONT Media during the second quarter worth approximately $56,839,000. Braun Stacey Associates Inc. acquired a new stake in OUTFRONT Media in the second quarter valued at $18,702,000. Cohen & Steers Inc. raised its holdings in OUTFRONT Media by 2.2% in the fourth quarter. Cohen & Steers Inc. now owns 22,314,228 shares of the financial services provider’s stock valued at $537,779,000 after acquiring an additional 486,192 shares in the last quarter. Renaissance Technologies LLC boosted its stake in OUTFRONT Media by 615.1% during the 1st quarter. Renaissance Technologies LLC now owns 285,667 shares of the financial services provider’s stock valued at $7,570,000 after acquiring an additional 245,721 shares during the last quarter. Finally, Boothbay Fund Management LLC boosted its stake in OUTFRONT Media by 38.7% during the 4th quarter. Boothbay Fund Management LLC now owns 684,027 shares of the financial services provider’s stock valued at $16,485,000 after acquiring an additional 190,990 shares during the last quarter.

About OUTFRONT Media

OUTFRONT Media Inc is an out-of-home advertising company that provides brands and agencies with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, urban panels, street furniture, transit advertising, and other display formats designed to reach consumers in public spaces.

The company’s advertising inventory is used across major metropolitan areas and transportation systems in the United States. OUTFRONT combines its media assets with audience measurement, data and analytics, creative services, and digital advertising capabilities to help advertisers plan, deliver, and evaluate campaigns.

OUTFRONT Media was formed from the former CBS Outdoor Americas business and adopted its current name in 2014 following its separation from CBS Corporation.