OUTFRONT Media (NYSE:OUT) Reaches New 12-Month High - Here's Why

Key Points

• Shares of OUTFRONT Media hit a new 52-week high at $30.60, and several analysts raised price targets (e.g., TD Cowen to $32, Barrington to $33, Wells Fargo to $30), leaving a consensus rating of "Moderate Buy" with an average target of $27.86.
• The company's most recent quarter showed a EPS miss ($0.55 vs. $0.71 expected) while revenue slightly beat estimates at $513.3 million; sell-side analysts forecast about $2.07 in EPS for the current fiscal year.
• OUTFRONT pays a $0.30 quarterly dividend (annualized $1.20) for a 3.9% yield

Shares of OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $30.60 and last traded at $30.3950, with a volume of 1394610 shares traded. The stock had previously closed at $30.02.

Wall Street Analysts Forecast Growth

OUT has been the subject of several research analyst reports. Zacks Research lowered shares of OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. TD Cowen upped their price target on shares of OUTFRONT Media from $24.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Wells Fargo & Company increased their price objective on shares of OUTFRONT Media from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, February 27th. Finally, Barrington Research increased their price objective on shares of OUTFRONT Media from $27.00 to $33.00 and gave the stock an "outperform" rating in a research report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.86.

OUTFRONT Media Stock Up 1.2%

The firm's 50-day moving average price is $27.82 and its 200-day moving average price is $24.42. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.51. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.92 and a quick ratio of 0.92.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.16). OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The business had revenue of $513.30 million during the quarter, compared to analyst estimates of $511.61 million. Sell-side analysts forecast that OUTFRONT Media Inc. will post 2.07 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. OUTFRONT Media's dividend payout ratio is presently 150.00%.

Insider Buying and Selling at OUTFRONT Media

In other news, Director Manuel A. Diaz sold 11,271 shares of the company's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $26.93, for a total value of $303,528.03. Following the completion of the transaction, the director directly owned 36,244 shares in the company, valued at approximately $976,050.92. This represents a 23.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew Siegel sold 50,000 shares of the company's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the completion of the transaction, the executive vice president owned 289,925 shares of the company's stock, valued at $7,477,165.75. This trade represents a 14.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OUT. Balyasny Asset Management L.P. boosted its stake in shares of OUTFRONT Media by 226.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,310,195 shares of the financial services provider's stock valued at $55,676,000 after purchasing an additional 1,603,315 shares during the period. Vanguard Group Inc. boosted 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 during the period. Ameriprise Financial Inc. boosted its stake in shares of OUTFRONT Media by 85.2% in the second quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider's stock valued at $29,192,000 after purchasing an additional 822,845 shares during the period. Woodline Partners LP purchased a new position in shares of OUTFRONT Media in the third quarter valued at $13,705,000. Finally, Federated Hermes Inc. boosted its stake in shares of OUTFRONT Media by 199.9% in the fourth quarter. Federated Hermes Inc. now owns 905,641 shares of the financial services provider's stock valued at $21,826,000 after purchasing an additional 603,694 shares during the period.

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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