James Michael Norton Buys 4,130 Shares of OUTFRONT Media (NYSE:OUT) Stock

Key Points

• OUTFRONT Media EVP James Michael Norton bought 4,130 shares at $30.81 each, a transaction worth about $127,245, according to an SEC filing.
• The company recently reported better-than-expected quarterly earnings of $0.34 per share versus $0.28 expected, while revenue rose 10% year over year to $429.6 million.
• OUTFRONT Media also declared a quarterly dividend of $0.30 per share, implying a 3.9% yield, though its payout ratio is high at 114.29%.

OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) EVP James Michael Norton acquired 4,130 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $30.81 per share, with a total value of $127,245.30. Following the transaction, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

OUTFRONT Media Stock Performance

Shares of NYSE OUT traded up $0.33 during trading hours on Thursday, hitting $30.68. 1,678,407 shares of the company's stock were exchanged, compared to its average volume of 1,472,603. OUTFRONT Media Inc. has a 1-year low of $15.45 and a 1-year high of $34.96. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 1.45 and a beta of 1.49. The company's 50-day moving average price is $30.71 and its 200-day moving average price is $27.16.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 earnings per share 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 during the quarter, compared to analysts' expectations of $431.44 million. During the same quarter in the previous year, the firm earned $0.14 EPS. The firm's revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts expect that OUTFRONT Media Inc. will post 2.12 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, June 5th. OUTFRONT Media's dividend payout ratio (DPR) is presently 114.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in OUTFRONT Media by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider's stock valued at $545,983,000 after buying an additional 1,131,954 shares during the last quarter. Cohen & Steers Inc. boosted its position in OUTFRONT Media by 2.2% in the 4th quarter. Cohen & Steers Inc. now owns 22,314,228 shares of the financial services provider's stock valued at $537,779,000 after buying an additional 486,192 shares during the last quarter. State Street Corp boosted its position in OUTFRONT Media by 2.1% in the 4th quarter. State Street Corp now owns 5,483,013 shares of the financial services provider's stock valued at $132,141,000 after buying an additional 111,084 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock valued at $80,393,000 after buying an additional 448,993 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in OUTFRONT Media by 8.4% in the 4th quarter. Wellington Management Group LLP now owns 4,309,133 shares of the financial services provider's stock valued at $103,850,000 after buying an additional 335,265 shares during the last quarter.

Analyst Upgrades and Downgrades

OUT has been the subject of a number of recent research reports. Morgan Stanley set a $37.00 target price on OUTFRONT Media in a report on Friday, May 8th. Zacks Research cut OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. Wells Fargo & Company increased their price objective on OUTFRONT Media from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, February 27th. TD Cowen reiterated a "buy" rating and issued a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Finally, Wall Street Zen upgraded OUTFRONT Media from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 30th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.71.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.