OUTFRONT Media (NYSE:OUT) Stock Passes Below 200-Day Moving Average – Here’s What Happened

OUTFRONT Media Inc. (NYSE:OUT) passed 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.

Analysts Set New Price Targets

Separately, Morgan Stanley upped their price objective on OUTFRONT Media from $17.43 to $18.45 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, OUTFRONT Media presently has an average rating of “Hold” and an average price target of $19.48.

OUTFRONT Media Price Performance

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

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results 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. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The company had revenue of $493.20 million during the quarter, compared to analysts’ expectations of $490.42 million. On average, sell-side analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given 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 dividend yield of 7.38%. OUTFRONT Media’s dividend payout ratio (DPR) is 81.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC boosted its stake in OUTFRONT Media by 165.7% during the 3rd quarter. Quest Partners LLC now owns 11,456 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 7,145 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of OUTFRONT Media in the third quarter valued at $5,762,000. Jennison Associates LLC bought a new position in OUTFRONT Media during the third quarter valued at about $1,280,000. Intech Investment Management LLC acquired a new position in OUTFRONT Media during the third quarter worth about $835,000. Finally, Algert Global LLC grew its holdings in OUTFRONT Media by 2.0% during the third quarter. Algert Global LLC now owns 851,160 shares of the financial services provider’s stock worth $15,644,000 after acquiring an additional 16,630 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.