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

OUTFRONT Media Inc. (NYSE:OUT) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $29.35 and traded as high as $30.16. OUTFRONT Media shares last traded at $30.0090, with a volume of 1,084,310 shares trading hands.

Analysts Set New Price Targets

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

OUTFRONT Media Trading Up 1.5%

The firm has a market capitalization of $5.29 billion, a PE ratio of 21.59 and a beta of 1.53. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.50. The business’s fifty day moving average price is $29.35 and its 200 day moving average price is $30.48.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The business had revenue of $522.50 million during the quarter, compared to analyst estimates of $509.61 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. As a group, analysts expect that OUTFRONT Media Inc. will post 2.18 EPS for the current fiscal year.

OUTFRONT Media Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th were issued a $0.33 dividend. This is a boost from OUTFRONT Media’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, September 4th. This represents a $1.32 annualized dividend and a yield of 4.4%. OUTFRONT Media’s payout ratio is presently 94.96%.

Insiders Place Their Bets

In other 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 sale, the executive vice president owned 10,420 shares of the company’s stock, valued at $310,724.40. The trade was 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 available at the SEC website. Also, EVP Matthew Siegel sold 25,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $27.84, for a total value of $696,000.00. Following the completion of the transaction, the executive vice president owned 264,925 shares of the company’s stock, valued at $7,375,512. The trade was a 8.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OUTFRONT Media

Several large investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont purchased a new stake in shares of OUTFRONT Media during the 2nd quarter valued at $34,000. EverSource Wealth Advisors LLC raised its position in shares of OUTFRONT Media by 74.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock worth $43,000 after buying an additional 686 shares during the period. TOP Private Wealth LLC. acquired a new position in OUTFRONT Media in the second quarter valued at $72,000. Nykredit A S acquired a new position in OUTFRONT Media in the second quarter valued at $84,000. Finally, AlphaGrep UK Ltd acquired a new position in OUTFRONT Media in the second quarter valued at $264,000.

About OUTFRONT Media

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.