OUTFRONT Media (NYSE:OUT) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Shares of OUTFRONT Media Inc. (NYSE:OUT) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $18.46 and traded as low as $16.27. OUTFRONT Media shares last traded at $16.47, with a volume of 1,308,408 shares.

Analyst Ratings Changes

Separately, Morgan Stanley lifted their target price on OUTFRONT Media from $17.43 to $18.45 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.48.

OUTFRONT Media Stock Performance

The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50-day moving average price of $18.09 and a 200-day moving average price of $18.44. The firm has a market capitalization of $2.72 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.06 and a beta of 2.00.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The company had revenue of $493.20 million for the quarter, compared to the consensus estimate of $490.42 million. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. On average, research analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, March 7th. This represents a $1.20 dividend on an annualized basis and a yield of 7.38%. OUTFRONT Media’s dividend payout ratio (DPR) is 81.63%.

Institutional Investors Weigh In On OUTFRONT Media

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of OUTFRONT Media by 132.5% during the 4th quarter. FMR LLC now owns 15,604,202 shares of the financial services provider’s stock valued at $276,819,000 after acquiring an additional 8,892,411 shares in the last quarter. Cohen & Steers Inc. increased its stake in OUTFRONT Media by 87.8% during the fourth quarter. Cohen & Steers Inc. now owns 5,243,211 shares of the financial services provider’s stock valued at $93,015,000 after purchasing an additional 2,450,632 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of OUTFRONT Media by 403.1% during the third quarter. JPMorgan Chase & Co. now owns 2,687,678 shares of the financial services provider’s stock worth $49,400,000 after purchasing an additional 2,153,423 shares during the period. Benchstone Capital Management LP bought a new position in shares of OUTFRONT Media in the 4th quarter worth about $29,038,000. Finally, LSV Asset Management boosted its holdings in shares of OUTFRONT Media by 6,623.5% in the 4th quarter. LSV Asset Management now owns 1,595,362 shares of the financial services provider’s stock valued at $28,302,000 after buying an additional 1,571,634 shares during the period.

About OUTFRONT Media

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.