Hsbc Holdings PLC Has $2 Million Position in OUTFRONT Media Inc. $OUT

Key Points

• HSBC Holdings reduced its OUTFRONT Media stake by 55% in the first quarter, selling 93,795 shares and retaining 76,643 shares valued at approximately $2.0 million.
• OUTFRONT Media reported quarterly EPS of $0.34, beating estimates of $0.28, while revenue increased 10% year over year to $429.6 million, slightly below expectations.
• The company pays a quarterly dividend of $0.30, equivalent to a 3.8% annual yield, while analysts maintain a generally positive outlook with a “Moderate Buy” consensus rating.

Hsbc Holdings PLC lessened its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 55.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,643 shares of the financial services provider's stock after selling 93,795 shares during the period. Hsbc Holdings PLC's holdings in OUTFRONT Media were worth $1,998,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Burney Co. acquired a new stake in shares of OUTFRONT Media during the 4th quarter worth approximately $735,000. BTC Capital Management Inc. acquired a new position in shares of OUTFRONT Media in the fourth quarter valued at $3,625,000. Vanguard Group Inc. raised its stake in shares of OUTFRONT Media by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider's stock valued at $545,983,000 after purchasing an additional 1,131,954 shares in the last quarter. Intech Investment Management LLC lifted its position in OUTFRONT Media by 116.6% in the fourth quarter. Intech Investment Management LLC now owns 269,557 shares of the financial services provider's stock worth $6,496,000 after purchasing an additional 145,115 shares during the period. Finally, Gabelli Funds LLC lifted its position in OUTFRONT Media by 30.3% in the fourth quarter. Gabelli Funds LLC now owns 333,440 shares of the financial services provider's stock worth $8,036,000 after purchasing an additional 77,545 shares during the period.

OUTFRONT Media Stock Performance

NYSE:OUT opened at $31.97 on Monday. OUTFRONT Media Inc. has a 1 year low of $16.64 and a 1 year high of $34.96. The firm has a 50 day moving average of $32.23 and a 200-day moving average of $29.12. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. The stock has a market capitalization of $5.63 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 1.52 and a beta of 1.48.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The business had revenue of $429.60 million for the quarter, compared to the consensus estimate of $431.44 million. During the same period in the previous year, the business earned $0.14 EPS. OUTFRONT Media's revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that OUTFRONT Media Inc. will post 2.11 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid a $0.30 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. OUTFRONT Media's dividend payout ratio (DPR) is 114.29%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OUT. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $38.00 price target on shares of OUTFRONT Media in a report on Wednesday, July 22nd. Barrington Research set a $38.00 price objective on shares of OUTFRONT Media in a report on Tuesday, May 12th. Wall Street Zen lowered shares of OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Sunday. TD Cowen reissued a "buy" rating and issued a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Finally, Morgan Stanley set a $37.00 price target on shares of OUTFRONT Media in a research report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, OUTFRONT Media currently has an average rating of "Moderate Buy" and an average target price of $32.57.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, EVP Richard H. Sauer sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the completion of the sale, the executive vice president owned 56,947 shares in the company, valued at approximately $1,826,859.76. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Michael Norton bought 4,130 shares of the company's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $30.81 per share, with a total value of $127,245.30. Following the completion of the purchase, the executive vice president owned 4,130 shares of the company's stock, valued at approximately $127,245.30. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 20,000 shares of company stock valued at $629,600 over the last ninety days. 0.45% of the stock is currently owned by company insiders.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.

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