Zacks Investment Research Downgrades Outfront Media (OUT) to Hold

Outfront Media (NYSE:OUT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, January 10th. They presently have a $25.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.36% from the stock’s current price.

According to Zacks, “Shares of Outfront Media have outperformed its industry in the past six months. Notably, the company is making diligent efforts to expand its digital display portfolio. It has resorted to acquisitions, swaps and conversion of traditional static billboard displays to digital billboard displays to focus on this low-cost out-of-home (OOH) platform. These strategic efforts bode well for its long-term growth. Also, the company is strengthening its technology platform to grow its client base and leverage on the fragmented OOH industry. However, the dreary environment in the national advertising market remains a risk. Further, the company faces stiff competition from other market players which reduces its pricing power. High debt levels and frequently changing compliance regulations remain risks for Outfront Media.”

A number of other equities research analysts also recently commented on the stock. Wells Fargo & Co restated an “outperform” rating and issued a $30.00 price objective on shares of Outfront Media in a research report on Tuesday, October 3rd. ValuEngine downgraded shares of Outfront Media from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Loop Capital reiterated a “buy” rating and set a $28.00 price target (up from $27.00) on shares of Outfront Media in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Outfront Media has an average rating of “Hold” and a consensus target price of $29.43.

Shares of Outfront Media (NYSE OUT) opened at $22.25 on Wednesday. The stock has a market capitalization of $3,040.30, a price-to-earnings ratio of 26.49, a PEG ratio of 1.53 and a beta of 1.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.73. Outfront Media has a 52 week low of $20.82 and a 52 week high of $27.89.

Outfront Media (NYSE:OUT) last issued its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.20). Outfront Media had a return on equity of 9.57% and a net margin of 7.71%. The firm had revenue of $392.40 million for the quarter, compared to analysts’ expectations of $391.18 million. During the same period in the previous year, the business posted $0.63 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts anticipate that Outfront Media will post 1.98 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in OUT. Janus Henderson Group PLC purchased a new stake in Outfront Media in the 2nd quarter worth approximately $100,424,000. JPMorgan Chase & Co. grew its stake in shares of Outfront Media by 10.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,690,108 shares of the financial services provider’s stock valued at $385,664,000 after buying an additional 1,460,082 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Outfront Media by 97.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,545,404 shares of the financial services provider’s stock valued at $64,093,000 after buying an additional 1,254,605 shares during the period. Magnolia Group LLC purchased a new stake in shares of Outfront Media during the 3rd quarter valued at $25,180,000. Finally, Thrivent Financial For Lutherans grew its stake in shares of Outfront Media by 2,593.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 702,465 shares of the financial services provider’s stock valued at $16,241,000 after buying an additional 676,383 shares during the period.

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Outfront Media Company Profile

OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.

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