Wells Fargo & Co. upgraded shares of Outfront Media Inc. (NYSE:OUT) from a market perform rating to an outperform rating in a research report released on Tuesday morning. The firm currently has $28.00 target price on the stock, up from their previous target price of $23.00.
A number of other brokerages have also recently issued reports on OUT. Zacks Investment Research upgraded Outfront Media from a hold rating to a buy rating and set a $25.00 price objective for the company in a research note on Wednesday, November 9th. Loop Capital assumed coverage on Outfront Media in a research note on Monday, September 12th. They set a hold rating and a $23.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $26.29.
Outfront Media (NYSE:OUT) opened at 24.94 on Tuesday. The firm has a 50-day moving average price of $22.20 and a 200-day moving average price of $22.68. Outfront Media has a 52 week low of $18.01 and a 52 week high of $25.11. The company’s market cap is $3.44 billion.
Outfront Media (NYSE:OUT) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.25. The company had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $382.38 million. Outfront Media had a negative net margin of 0.63% and a negative return on equity of 0.79%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities research analysts anticipate that Outfront Media will post $0.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Wednesday, December 7th. Outfront Media’s dividend payout ratio is currently -1,942.58%.
In other Outfront Media news, CEO Jeremy J. Male purchased 5,000 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was purchased at an average price of $21.38 per share, for a total transaction of $106,900.00. Following the completion of the purchase, the chief executive officer now directly owns 204,297 shares of the company’s stock, valued at $4,367,869.86. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Sriubas acquired 6,000 shares of Outfront Media stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average price of $20.88 per share, with a total value of $125,280.00. Following the transaction, the executive vice president now owns 19,319 shares of the company’s stock, valued at approximately $403,380.72. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Checchi Capital Advisers LLC boosted its stake in Outfront Media by 46.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,142 shares of the company’s stock worth $100,000 after buying an additional 1,317 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in Outfront Media by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 4,449 shares of the company’s stock worth $105,000 after buying an additional 18 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Outfront Media by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,628 shares of the company’s stock worth $109,000 after buying an additional 513 shares during the period. Societe Generale purchased a new stake in Outfront Media during the second quarter worth approximately $111,000. Finally, SG Americas Securities LLC purchased a new stake in Outfront Media during the second quarter worth approximately $111,000.
Outfront Media Company Profile