Zacks Investment Research upgraded shares of Outfront Media (NYSE:OUT) from a hold rating to a buy rating in a report published on Tuesday. Zacks Investment Research currently has $26.00 target price on the financial services provider’s stock.
According to Zacks, “Shares of Outfront Media have outperformed its industry in the past month. Notably, the company is making diligent efforts to expand its digital display portfolio. It has resorted to acquisitions, swaps and conversion of traditional static billboard displays to digital billboard displays to focus on this low-cost out-of-home (OOH) platform. These strategic efforts bode well for its long-term growth. Also, the company is strengthening its technology platform to grow its client base and leverage on the fragmented OOH industry. Further, its huge geographic diversity, both industry and geographical wise, makes its revenues less volatile. However, the dreary environment in the national advertising market remains a risk.”
Several other equities analysts have also recently weighed in on OUT. Loop Capital reaffirmed a buy rating and set a $28.00 target price (up previously from $27.00) on shares of Outfront Media in a research note on Thursday, September 28th. ValuEngine raised Outfront Media from a hold rating to a buy rating in a research note on Monday, October 2nd. Finally, Wells Fargo & Co reaffirmed an outperform rating and set a $30.00 target price on shares of Outfront Media in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $29.57.
Outfront Media (NYSE:OUT) last released its earnings results on Monday, November 6th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.20). Outfront Media had a net margin of 7.71% and a return on equity of 9.57%. The business had revenue of $392.40 million for the quarter, compared to analysts’ expectations of $391.18 million. During the same period last year, the firm earned $0.63 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. equities analysts anticipate that Outfront Media will post 1.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.44 annualized dividend and a yield of 6.29%. Outfront Media’s dividend payout ratio (DPR) is presently 171.43%.
A number of large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Outfront Media by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,106 shares of the financial services provider’s stock valued at $118,000 after buying an additional 478 shares during the last quarter. Pacad Investment Ltd. lifted its holdings in shares of Outfront Media by 54.3% during the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,900 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Outfront Media by 57.9% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 6,000 shares of the financial services provider’s stock valued at $151,000 after buying an additional 2,200 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in shares of Outfront Media during the 3rd quarter valued at about $205,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Outfront Media during the 3rd quarter valued at about $227,000.
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About Outfront Media
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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