Franklin Resources Inc. Grows Stock Position in OUTFRONT Media Inc. (NYSE:OUT)

Franklin Resources Inc. raised its position in OUTFRONT Media Inc. (NYSE:OUT) by 653.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 229,872 shares of the financial services provider’s stock after acquiring an additional 199,356 shares during the period. Franklin Resources Inc.’s holdings in OUTFRONT Media were worth $4,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in OUTFRONT Media during the third quarter worth about $32,000. Quarry LP boosted its holdings in OUTFRONT Media by 258.8% in the 2nd quarter. Quarry LP now owns 1,837 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,325 shares during the period. National Bank of Canada FI purchased a new position in OUTFRONT Media in the 2nd quarter valued at approximately $28,000. Virtus Fund Advisers LLC bought a new stake in OUTFRONT Media during the 3rd quarter valued at $49,000. Finally, Quest Partners LLC lifted its position in shares of OUTFRONT Media by 30.0% during the second quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 994 shares in the last quarter.

Wall Street Analyst Weigh In

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

OUTFRONT Media Stock Down 0.3 %

Shares of NYSE:OUT opened at $18.13 on Tuesday. The firm has a market capitalization of $3.01 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.97. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. OUTFRONT Media Inc. has a 52-week low of $12.27 and a 52-week high of $19.50. The firm has a fifty day moving average of $18.60 and a 200 day moving average of $16.88.

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

OUTFRONT Media Cuts Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 15th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is currently 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.