Oppenheimer Asset Management Inc. acquired a new stake in Outfront Media Inc (NYSE:OUT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 14,389 shares of the financial services provider’s stock, valued at approximately $287,000.
Other large investors also recently modified their holdings of the company. Cove Street Capital LLC bought a new position in Outfront Media in the 2nd quarter valued at approximately $134,000. Cubist Systematic Strategies LLC lifted its stake in Outfront Media by 70.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,826 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 4,467 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Outfront Media in the 2nd quarter valued at approximately $279,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Outfront Media in the 2nd quarter valued at approximately $289,000. Finally, Schnieders Capital Management LLC bought a new position in Outfront Media in the 2nd quarter valued at approximately $291,000. 97.99% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Outfront Media from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. ValuEngine raised shares of Outfront Media from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 14th. Wells Fargo & Co reissued a “market perform” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Outfront Media in a research note on Thursday, August 9th. Imperial Capital assumed coverage on shares of Outfront Media in a research note on Thursday, September 13th. They issued an “inline” rating and a $22.00 price objective for the company. Finally, Citigroup dropped their price objective on shares of Outfront Media from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $23.60.
Outfront Media (NYSE:OUT) last released its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The firm had revenue of $414.20 million during the quarter, compared to the consensus estimate of $404.37 million. Outfront Media had a net margin of 5.54% and a return on equity of 7.34%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. On average, research analysts predict that Outfront Media Inc will post 2.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.90%. The ex-dividend date of this dividend is Thursday, December 6th. Outfront Media’s payout ratio is currently 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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