Fort Washington Investment Advisors Inc. OH raised its position in shares of Outfront Media Inc (NYSE:OUT) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 940,702 shares of the financial services provider’s stock after buying an additional 74,202 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.68% of Outfront Media worth $18,767,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cove Street Capital LLC purchased a new position in shares of Outfront Media during the second quarter worth about $134,000. Gabelli Funds LLC acquired a new stake in shares of Outfront Media during the 3rd quarter valued at approximately $200,000. Cubist Systematic Strategies LLC lifted its position in shares of Outfront Media by 70.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,826 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 4,467 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Outfront Media during the 2nd quarter valued at approximately $279,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Outfront Media during the 3rd quarter valued at approximately $287,000. Institutional investors and hedge funds own 98.35% of the company’s stock.
OUT has been the subject of a number of research reports. TheStreet upgraded shares of Outfront Media from a “c+” rating to a “b-” rating in a research report on Monday, November 26th. Citigroup cut their price objective on Outfront Media from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Zacks Investment Research upgraded Outfront Media from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, November 14th. Imperial Capital began coverage on Outfront Media in a report on Thursday, September 13th. They issued an “inline” rating and a $22.00 price target for the company. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $27.00 price target (up from $25.00) on shares of Outfront Media in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.20.
Outfront Media stock traded up $0.46 during trading on Thursday, reaching $20.98. 1,198,500 shares of the company’s stock were exchanged, compared to its average volume of 1,078,946. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.92. Outfront Media Inc has a 52-week low of $17.27 and a 52-week high of $24.23. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 1.34 and a beta of 1.18.
Outfront Media (NYSE:OUT) last posted its quarterly earnings data on Monday, November 5th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $414.20 million during the quarter, compared to analysts’ expectations of $404.37 million. Outfront Media had a net margin of 5.54% and a return on equity of 7.42%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. Analysts forecast that Outfront Media Inc will post 2.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.86%. Outfront Media’s dividend payout ratio (DPR) is presently 72.00%.
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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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