OUTFRONT Media Inc. (NYSE:OUT) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its stake in OUTFRONT Media Inc. (NYSE:OUT) by 14.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 108,711 shares of the financial services provider’s stock after selling 18,104 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of OUTFRONT Media worth $1,555,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in OUTFRONT Media in the fourth quarter valued at $2,370,000. Lasalle Investment Management Securities LLC lifted its stake in OUTFRONT Media by 17.3% during the first quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock worth $47,733,000 after purchasing an additional 419,706 shares during the last quarter. Duality Advisers LP acquired a new position in OUTFRONT Media in the first quarter valued at approximately $944,000. BNP Paribas Financial Markets increased its stake in OUTFRONT Media by 51.9% in the first quarter. BNP Paribas Financial Markets now owns 375,690 shares of the financial services provider’s stock valued at $6,308,000 after purchasing an additional 128,343 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in OUTFRONT Media by 216.1% during the first quarter. First Eagle Investment Management LLC now owns 479,191 shares of the financial services provider’s stock worth $8,046,000 after purchasing an additional 327,584 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Barrington Research raised their price target 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 raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Friday, August 30th. Finally, TD Cowen started coverage on OUTFRONT Media in a report on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

OUTFRONT Media Trading Down 0.5 %

Shares of OUTFRONT Media stock opened at $17.65 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.71. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -6.63, a price-to-earnings-growth ratio of 1.10 and a beta of 1.94. OUTFRONT Media Inc. has a 52-week low of $8.18 and a 52-week high of $18.15. The company’s 50-day simple moving average is $16.03 and its 200-day simple moving average is $15.42.

OUTFRONT Media (NYSE:OUT) last posted its quarterly 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 net margin of 12.32% and a return on equity of 37.83%. The business had revenue of $477.30 million for the quarter, compared to analysts’ expectations of $482.27 million. During the same period in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that OUTFRONT Media Inc. will post 1.53 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend is Friday, September 6th. OUTFRONT Media’s dividend payout ratio (DPR) is presently -45.11%.

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.