Morgan Stanley Issues Positive Forecast for OUTFRONT Media (NYSE:OUT) Stock Price

OUTFRONT Media (NYSE:OUT) had its target price hoisted by stock analysts at Morgan Stanley from $19.00 to $20.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential downside of 1.82% from the company’s previous close.

Several other research analysts have also weighed in on OUT. Wells Fargo & Company reissued an “overweight” rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Wall Street Zen raised OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Barrington Research restated an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, OUTFRONT Media has a consensus rating of “Moderate Buy” and a consensus price target of $19.20.

OUTFRONT Media Trading Up 1.0%

OUT stock traded up $0.21 during midday trading on Monday, reaching $20.37. 1,671,156 shares of the company’s stock traded hands, compared to its average volume of 1,570,557. OUTFRONT Media has a fifty-two week low of $12.95 and a fifty-two week high of $20.48. The business has a 50-day moving average price of $18.19 and a two-hundred day moving average price of $17.35. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.61. The company has a market capitalization of $3.41 billion, a P/E ratio of 29.96, a PEG ratio of 1.18 and a beta of 1.82.

OUTFRONT Media (NYSE:OUT) last announced its earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The business had revenue of $467.50 million during the quarter, compared to analyst estimates of $458.32 million. OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. Equities research analysts forecast that OUTFRONT Media will post 1.59 EPS for the current fiscal year.

Insider Activity at OUTFRONT Media

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.38, for a total transaction of $79,961.88. Following the completion of the sale, the executive vice president directly owned 4,170 shares in the company, valued at approximately $80,814.60. This represents a 49.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the transaction, the insider directly owned 8,913,813 shares in the company, valued at approximately $160,983,462.78. The trade was a 48.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Advisors Capital Management LLC bought a new position in shares of OUTFRONT Media during the first quarter valued at approximately $22,330,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in OUTFRONT Media during the 1st quarter valued at about $14,177,000. Ameriprise Financial Inc. lifted its stake in OUTFRONT Media by 85.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider’s stock valued at $29,192,000 after acquiring an additional 822,845 shares during the period. Lasalle Investment Management Securities LLC grew its position in OUTFRONT Media by 24.0% in the 2nd quarter. Lasalle Investment Management Securities LLC now owns 3,925,402 shares of the financial services provider’s stock worth $64,063,000 after purchasing an additional 758,952 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of OUTFRONT Media in the first quarter worth $11,388,000.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.