OUTFRONT Media (NYSE:OUT) Shares Cross Below 50 Day Moving Average - Time to Sell?

Key Points

• OUTFRONT Media shares fell below their 50-day moving average, trading as low as $27.51 compared with the $29.95 average, although the stock later traded near $27.92.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating, resulting in a “Moderate Buy” consensus and an average price target of $34.00.
• The company exceeded quarterly earnings and revenue expectations, while increasing its quarterly dividend to $0.33, implying a 4.7% annualized yield.

OUTFRONT Media Inc. (NYSE:OUT - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $29.95 and traded as low as $27.51. OUTFRONT Media shares last traded at $27.9240, with a volume of 1,808,149 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OUT shares. Wells Fargo & Company lifted their price objective on OUTFRONT Media from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $38.00 target price on shares of OUTFRONT Media in a report on Wednesday, July 22nd. Wall Street Zen downgraded OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 26th. TD Cowen reaffirmed a "buy" rating and issued a $40.00 price target (up from $38.00) on shares of OUTFRONT Media in a research note on Thursday, August 6th. Finally, Citigroup reaffirmed a "buy" rating on shares of OUTFRONT Media in a research note on Tuesday, September 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.00.

OUTFRONT Media Trading Up 1.0%

The company has a market cap of $4.92 billion, a price-to-earnings ratio of 20.09 and a beta of 1.48. The company's fifty day moving average price is $29.95 and its two-hundred day moving average price is $30.39. 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 - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.30. The company had revenue of $522.50 million during the quarter, compared to analysts' expectations of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. OUTFRONT Media's quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Research analysts expect that OUTFRONT Media Inc. will post 2.18 earnings per share for the current year.

OUTFRONT Media Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, September 4th. This is a positive change from OUTFRONT Media's previous quarterly dividend of $0.30. OUTFRONT Media's dividend payout ratio is presently 94.96%.

Insider Buying and Selling

In other news, EVP Mark Emilio Bonanni sold 3,385 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $29.82, for a total transaction of $100,940.70. Following the sale, the executive vice president owned 10,420 shares in the company, valued at approximately $310,724.40. This represents a 24.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.45% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new stake in OUTFRONT Media during the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC lifted its position in shares of OUTFRONT Media by 74.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider's stock worth $43,000 after purchasing an additional 686 shares in the last quarter. TOP Private Wealth LLC. acquired a new position in shares of OUTFRONT Media during the second quarter worth approximately $72,000. Nykredit A S acquired a new position in shares of OUTFRONT Media during the second quarter worth approximately $84,000. Finally, North Star Investment Management Corp. bought a new stake in shares of OUTFRONT Media during the first quarter valued at approximately $222,000.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is an out-of-home (OOH) advertising company that provides brands and agencies with advertising space across physical and digital media. Its inventory includes billboards, digital displays, transit advertising, street furniture, and other media assets located in high-traffic areas.

The company's offerings include traditional static advertising, digital out-of-home campaigns, place-based media, and experiential marketing solutions. OUTFRONT also uses audience insights, location data, and technology to help advertisers plan, target, measure, and optimize campaigns across its media network.

OUTFRONT serves advertisers primarily in the United States and Canada, with media assets in major metropolitan markets and transportation systems.

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