Wells Fargo & Co Reaffirms Market Perform Rating for Outfront Media (OUT)

Wells Fargo & Co reaffirmed their market perform rating on shares of Outfront Media (NYSE:OUT) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The brokerage currently has a $27.00 price objective on the financial services provider’s stock, up from their prior price objective of $25.00.

Other research analysts also recently issued reports about the company. Morgan Stanley reduced their target price on Outfront Media from $24.00 to $22.00 and set an equal weight rating for the company in a research note on Friday, June 22nd. Zacks Investment Research raised Outfront Media from a sell rating to a hold rating in a research note on Thursday, May 17th. Finally, ValuEngine raised Outfront Media from a strong sell rating to a sell rating in a research note on Saturday, July 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $25.60.

Shares of Outfront Media traded down $0.04, hitting $18.79, during trading hours on Thursday, MarketBeat.com reports. 13,595 shares of the company’s stock were exchanged, compared to its average volume of 1,123,819. 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 company has a market cap of $2.62 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 1.56 and a beta of 1.15. Outfront Media has a fifty-two week low of $17.75 and a fifty-two week high of $25.30.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 7.66%. The ex-dividend date is Thursday, September 6th. Outfront Media’s dividend payout ratio is currently 72.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stephens Inc. AR raised its stake in Outfront Media by 4.4% in the 2nd quarter. Stephens Inc. AR now owns 72,318 shares of the financial services provider’s stock valued at $1,407,000 after purchasing an additional 3,033 shares during the last quarter. Koch Industries Inc. raised its stake in Outfront Media by 38.3% in the 1st quarter. Koch Industries Inc. now owns 15,152 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 4,194 shares during the last quarter. Azimuth Capital Management LLC raised its stake in Outfront Media by 2.4% in the 2nd quarter. Azimuth Capital Management LLC now owns 177,921 shares of the financial services provider’s stock valued at $3,461,000 after purchasing an additional 4,230 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in Outfront Media by 31.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 17,983 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Aperio Group LLC raised its stake in Outfront Media by 28.8% in the 1st quarter. Aperio Group LLC now owns 21,015 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 4,703 shares during the last quarter. 98.64% 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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