OUTFRONT Media (NYSE:OUT) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

by · The Cerbat Gem

OUTFRONT Media Inc. (NYSE:OUT – Get Free Report)’s stock price crossed below its 50-day moving average during trading on Monday. The stock has a 50-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 changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $38.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, July 22nd. Wells Fargo & Company raised their price objective on OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup restated a “buy” rating on shares of OUTFRONT Media in a research report on Tuesday, September 8th. TD Cowen restated a “buy” rating and issued a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a research note on Thursday, August 6th. Finally, Wall Street Zen cut OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Read Our Latest Stock Report on OUTFRONT Media

OUTFRONT Media Trading Down 0.8%

The company has a 50 day moving average of $29.87 and a 200 day moving average of $30.39. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 19.98 and a beta of 1.48. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50.

OUTFRONT Media (NYSE:OUT – Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.38 by $0.30. The company had revenue of $522.50 million for the quarter, compared to the consensus estimate of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 2.18 EPS for the current year.

OUTFRONT Media Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $0.33 per share. This is a boost from OUTFRONT Media’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, September 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.8%. OUTFRONT Media’s dividend payout ratio is currently 94.96%.

Insiders Place Their Bets

In other OUTFRONT Media news, EVP Mark Emilio Bonanni sold 3,385 shares of OUTFRONT Media stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $29.82, for a total value of $100,940.70. Following the completion of the transaction, the executive vice president owned 10,420 shares in the company, valued at approximately $310,724.40. The trade was a 24.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.45% of the stock is owned by corporate insiders.

Institutional Trading of OUTFRONT Media

A number of hedge funds and other institutional investors have recently made changes to their positions in OUT. Bank of New York Mellon Corp acquired a new stake in OUTFRONT Media in the 2nd quarter valued at about $56,839,000. Braun Stacey Associates Inc. bought a new position in OUTFRONT Media in the 2nd quarter worth approximately $18,702,000. Cohen & Steers Inc. lifted its holdings in OUTFRONT Media by 2.2% during the 4th quarter. Cohen & Steers Inc. now owns 22,314,228 shares of the financial services provider’s stock worth $537,779,000 after buying an additional 486,192 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in OUTFRONT Media by 615.1% during the 1st quarter. Renaissance Technologies LLC now owns 285,667 shares of the financial services provider’s stock worth $7,570,000 after buying an additional 245,721 shares in the last quarter. Finally, Boothbay Fund Management LLC boosted its position in OUTFRONT Media by 38.7% in the 4th quarter. Boothbay Fund Management LLC now owns 684,027 shares of the financial services provider’s stock valued at $16,485,000 after buying an additional 190,990 shares during the last quarter.

About OUTFRONT Media

(Get Free Report)

OUTFRONT Media Inc is an out-of-home advertising company that provides brands and agencies with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, urban panels, street furniture, transit advertising, and other display formats designed to reach consumers in public spaces.

The company’s advertising inventory is used across major metropolitan areas and transportation systems in the United States. OUTFRONT combines its media assets with audience measurement, data and analytics, creative services, and digital advertising capabilities to help advertisers plan, deliver, and evaluate campaigns.

OUTFRONT Media was formed from the former CBS Outdoor Americas business and adopted its current name in 2014 following its separation from CBS Corporation.

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