Putnam Investments LLC Sells 6,340 Shares of Outfront Media Inc. (NYSE:OUT)

Putnam Investments LLC cut its position in Outfront Media Inc. (NYSE:OUT – Get Rating) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 117,226 shares of the financial services provider’s stock after selling 6,340 shares during the period. Putnam Investments LLC’s holdings in Outfront Media were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in shares of Outfront Media during the 1st quarter valued at $28,000. Quantbot Technologies LP bought a new stake in shares of Outfront Media during the 1st quarter valued at $41,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Outfront Media during the 2nd quarter valued at $38,000. Captrust Financial Advisors bought a new stake in shares of Outfront Media during the 2nd quarter valued at $80,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Outfront Media during the 1st quarter worth $206,000.

Outfront Media Stock Down 3.5 %

Shares of Outfront Media stock opened at $15.90 on Monday. Outfront Media Inc. has a one year low of $14.97 and a one year high of $29.36. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s 50-day moving average is $18.54 and its 200 day moving average is $17.74. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 0.85 and a beta of 1.72.

Outfront Media (NYSE:OUT – Get Rating) last announced its earnings results on Wednesday, February 22nd. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.30). The business had revenue of $494.70 million for the quarter, compared to the consensus estimate of $495.37 million. Outfront Media had a net margin of 8.35% and a return on equity of 12.13%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. Equities research analysts anticipate that Outfront Media Inc. will post 1.87 EPS for the current year.

Outfront Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be issued a $0.30 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $1.20 annualized dividend and a yield of 7.55%. Outfront Media’s payout ratio is currently 148.15%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OUT. JPMorgan Chase & Co. dropped their price objective on Outfront Media from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, February 23rd. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of Outfront Media in a research report on Thursday, February 23rd. Morgan Stanley lowered their target price on Outfront Media from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, December 19th. Finally, Citigroup lowered their target price on Outfront Media from $27.00 to $25.00 and set a “buy” rating for the company in a report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Outfront Media Profile

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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.