Thornburg Investment Management Inc. grew its stake in Outfront Media Inc (NYSE:OUT) by 12.3% during the third quarter, HoldingsChannel reports. The firm owned 3,081,000 shares of the financial services provider’s stock after purchasing an additional 338,000 shares during the period. Thornburg Investment Management Inc.’s holdings in Outfront Media were worth $61,466,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of OUT. Cove Street Capital LLC acquired a new stake in Outfront Media during the second quarter worth about $134,000. Gabelli Funds LLC acquired a new stake in Outfront Media during the third quarter worth about $200,000. Cubist Systematic Strategies LLC raised its stake in Outfront Media by 70.2% during the second quarter. Cubist Systematic Strategies LLC now owns 10,826 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 4,467 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Outfront Media during the second quarter worth about $279,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Outfront Media during the third quarter worth about $287,000. Institutional investors and hedge funds own 97.99% of the company’s stock.
OUT opened at $18.21 on Tuesday. The stock has a market cap of $2.51 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 1.20 and a beta of 1.14. Outfront Media Inc has a fifty-two week low of $17.27 and a fifty-two week high of $24.84. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.98.
Outfront Media (NYSE:OUT) last released its quarterly earnings data on Monday, November 5th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $404.37 million. Outfront Media had a net margin of 5.88% and a return on equity of 7.56%. Outfront Media’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. Sell-side analysts predict that Outfront Media Inc will post 2.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 7.91%. The ex-dividend date of this dividend is Thursday, December 6th. Outfront Media’s dividend payout ratio (DPR) is 72.00%.
OUT has been the topic of several research reports. Zacks Investment Research lowered shares of Outfront Media from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Citigroup dropped their price objective on shares of Outfront Media from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. ValuEngine lowered shares of Outfront Media from a “sell” rating to a “strong sell” rating in a research note on Monday, September 24th. Wells Fargo & Co reiterated a “market perform” rating and set a $27.00 price objective (up previously from $25.00) on shares of Outfront Media in a research note on Thursday, August 9th. Finally, Imperial Capital initiated coverage on shares of Outfront Media in a research note on Thursday, September 13th. They set an “inline” rating and a $22.00 price objective on the stock. Two investment 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’s stock. The stock presently has an average rating of “Hold” and an average target price of $23.60.
Outfront Media Company Profile
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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