Zacks Investment Research lowered shares of Outfront Media (NYSE:OUT) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Shares of Outfront Media have outperformed the industry it belongs to, in the past six months. 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 diversity, both industry and geographical wise, makes its revenues less volatile. However, the dreary environment in the national advertising market remains a risk. Also seasonality of business and dependence on the prospects of advertisers are the challenges for the company. Interest rate hikes adds to its woes.”
A number of other equities research analysts also recently issued reports on the company. ValuEngine downgraded Outfront Media from a buy rating to a hold rating in a research report on Sunday, December 31st. Wells Fargo & Co reissued an outperform rating and set a $30.00 price target on shares of Outfront Media in a research report on Tuesday, October 3rd. Finally, Loop Capital reissued a buy rating and set a $28.00 price target (up previously from $27.00) on shares of Outfront Media in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Outfront Media presently has an average rating of Hold and an average price target of $29.83.
Shares of Outfront Media (NYSE:OUT) traded up $0.23 during trading hours on Wednesday, reaching $22.50. The company had a trading volume of 555,524 shares, compared to its average volume of 572,855. The firm has a market capitalization of $3,087.43, a P/E ratio of 26.79, a P/E/G ratio of 1.55 and a beta of 1.13. Outfront Media has a 1-year low of $20.82 and a 1-year high of $27.89. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.73.
Outfront Media (NYSE:OUT) last issued its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.20). The company had revenue of $392.40 million for the quarter, compared to analyst estimates of $391.18 million. Outfront Media had a return on equity of 9.57% and a net margin of 7.71%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. sell-side analysts predict that Outfront Media will post 1.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend was Thursday, December 7th. Outfront Media’s dividend payout ratio is currently 171.43%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OUT. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Outfront Media by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,106 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 478 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Outfront Media by 57.9% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 6,000 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 2,200 shares during the last quarter. Cadence Capital Management LLC bought a new stake in Outfront Media during the third quarter worth $205,000. Parametrica Management Ltd bought a new stake in Outfront Media during the third quarter worth $227,000. Finally, M&T Bank Corp lifted its stake in Outfront Media by 7.6% during the second quarter. M&T Bank Corp now owns 10,597 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 748 shares during the last quarter.
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Outfront Media Company Profile
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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