Edgestream Partners L.P. Acquires New Shares in OUTFRONT Media Inc. (NYSE:OUT)

Edgestream Partners L.P. acquired a new position in OUTFRONT Media Inc. (NYSE:OUT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,400 shares of the financial services provider’s stock, valued at approximately $1,293,000. Edgestream Partners L.P. owned approximately 0.05% of OUTFRONT Media at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC bought a new position in shares of OUTFRONT Media in the 4th quarter valued at approximately $300,000. Dimensional Fund Advisors LP raised its position in shares of OUTFRONT Media by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,067,826 shares of the financial services provider’s stock valued at $28,869,000 after purchasing an additional 44,534 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of OUTFRONT Media in the fourth quarter worth $180,000. Norges Bank bought a new stake in shares of OUTFRONT Media during the 4th quarter worth $13,779,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in OUTFRONT Media in the 4th quarter valued at $143,000.

OUTFRONT Media Stock Up 1.0 %

OUT stock opened at $18.25 on Friday. OUTFRONT Media Inc. has a twelve month low of $8.18 and a twelve month high of $18.65. The company has a market cap of $3.03 billion, a PE ratio of -6.86, a price-to-earnings-growth ratio of 1.10 and a beta of 1.94. The business’s 50-day simple moving average is $16.14 and its 200 day simple moving average is $15.46. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.71.

OUTFRONT Media (NYSE:OUT) last released its earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.60. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. The business had revenue of $477.30 million for the quarter, compared to the consensus estimate of $482.27 million. During the same period last year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that OUTFRONT Media Inc. will post 1.53 earnings per share for the current year.

OUTFRONT Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend is Friday, September 6th. OUTFRONT Media’s dividend payout ratio (DPR) is presently -45.11%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OUT shares. JPMorgan Chase & Co. boosted their target price on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen began coverage on OUTFRONT Media in a research note on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price objective on the stock. Barrington Research lifted their price objective on OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. StockNews.com upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company began coverage on OUTFRONT Media in a research note on Thursday. They issued an “overweight” rating and a $22.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

About OUTFRONT Media

OUTFRONT leverages the power of technology, location, and creativity to connect 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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.