JPMorgan Chase & Co. Buys 2,153,423 Shares of OUTFRONT Media Inc. (NYSE:OUT)

JPMorgan Chase & Co. raised its stake in OUTFRONT Media Inc. (NYSE:OUT) by 403.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,687,678 shares of the financial services provider’s stock after acquiring an additional 2,153,423 shares during the period. JPMorgan Chase & Co.’s holdings in OUTFRONT Media were worth $49,400,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OUT. Rhumbline Advisers raised its holdings in OUTFRONT Media by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 496,221 shares of the financial services provider’s stock valued at $7,096,000 after buying an additional 4,193 shares during the last quarter. National Bank of Canada FI bought a new position in shares of OUTFRONT Media during the second quarter valued at about $28,000. Foundry Partners LLC bought a new stake in shares of OUTFRONT Media in the second quarter worth about $600,000. Quest Partners LLC increased its holdings in OUTFRONT Media by 30.0% during the 2nd quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 994 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in OUTFRONT Media by 5.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 23,222 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 1,220 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on OUT. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Wolfe Research downgraded shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. Barrington Research reaffirmed an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company started coverage on shares of OUTFRONT Media in a report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.00.

OUTFRONT Media Trading Up 0.6 %

NYSE:OUT opened at $17.64 on Friday. The firm has a market capitalization of $2.93 billion, a P/E ratio of 12.88, a PEG ratio of 1.20 and a beta of 1.96. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65. OUTFRONT Media Inc. has a one year low of $12.27 and a one year high of $19.50. The company’s 50-day simple moving average is $18.42 and its 200 day simple moving average is $17.08.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.20). OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The company had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. During the same quarter in the previous year, the company earned $0.46 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, analysts forecast that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The business also recently declared a special dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 15th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, November 15th. OUTFRONT Media’s dividend payout ratio is presently 87.59%.

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.