Zacks Investment Research upgraded shares of Outfront Media (NYSE:OUT) from a sell rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “Shares of Outfront Media have outperformed the industry it belongs to in the past month. Further, the stock has seen the Zacks Consensus Estimate for second-quarter 2018 funds from operations (FFO) per share remaining unchanged in a week’s time. Recently, Outfront Media reported first-quarter 2018 results that reflected better-than-expected revenue numbers. Further, the company is reaping benefits from the acquisition of digital billboards in Canada as well as the conversion of static billboards to digital. Nonetheless, the dreary environment in the national advertising market poses a challenge for Outfront Media. Additionally, seasonality of the business and intense competition remain concerns for the company. Moreover, interest rate hikes add to its woes.”
Other analysts have also recently issued research reports about the company. ValuEngine cut Outfront Media from a buy rating to a hold rating in a research report on Friday, February 2nd. Wells Fargo reduced their price target on Outfront Media from $30.00 to $27.00 and set an outperform rating for the company in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $26.50.
Shares of OUT opened at $19.78 on Thursday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 1.64 and a beta of 1.09. Outfront Media has a 52 week low of $17.75 and a 52 week high of $25.30.
Outfront Media (NYSE:OUT) last issued its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.22). The company had revenue of $337.90 million during the quarter, compared to analysts’ expectations of $337.44 million. Outfront Media had a return on equity of 10.87% and a net margin of 8.67%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. research analysts anticipate that Outfront Media will post 2.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date is Thursday, June 7th. Outfront Media’s dividend payout ratio (DPR) is 72.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB boosted its stake in shares of Outfront Media by 31.4% in the first quarter. Xact Kapitalforvaltning AB now owns 17,983 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 4,300 shares during the period. Royal Bank of Canada boosted its stake in shares of Outfront Media by 13.2% in the first quarter. Royal Bank of Canada now owns 48,700 shares of the financial services provider’s stock worth $913,000 after acquiring an additional 5,682 shares during the period. Scopus Asset Management L.P. bought a new position in shares of Outfront Media in the first quarter worth about $1,874,000. TLP Group LLC boosted its stake in shares of Outfront Media by 6,494.0% in the first quarter. TLP Group LLC now owns 12,133 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 11,949 shares during the period. Finally, Verition Fund Management LLC boosted its stake in shares of Outfront Media by 115.9% in the first quarter. Verition Fund Management LLC now owns 72,504 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 38,924 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.
About Outfront Media
OUTFRONT Media connects brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its ON Smart Media platform, OUTFRONT Media is implementing digital technology that will fundamentally change the ways advertisers engage people on-the-go.
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