Outfront Media (NYSE:OUT) Price Target Cut to $22.00 by Analysts at JPMorgan Chase & Co.

Posted by Defense World Staff on Feb 24th, 2023

Outfront Media (NYSE:OUT – Get Rating) had its target price cut by JPMorgan Chase & Co. from $25.00 to $22.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the company. Morgan Stanley reduced their price objective on Outfront Media from $22.00 to $20.00 and set an equal weight rating for the company in a research report on Monday, December 19th. Barrington Research reaffirmed an outperform rating and issued a $24.00 price objective on shares of Outfront Media in a report on Thursday. Finally, StockNews.com lowered shares of Outfront Media from a hold rating to a sell rating in a research note on Friday, November 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $25.60.

Outfront Media Price Performance

Shares of NYSE OUT opened at $17.74 on Thursday. The business has a 50 day simple moving average of $18.41 and a 200-day simple moving average of $17.94. Outfront Media has a twelve month low of $14.97 and a twelve month high of $29.36. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.71. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.17.

Outfront Media (NYSE:OUT – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.30). The business had revenue of $494.70 million during the quarter, compared to the consensus estimate of $495.37 million. Outfront Media had a return on equity of 13.73% and a net margin of 9.17%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts expect that Outfront Media will post 1.82 earnings per share for the current year.

Hedge Funds Weigh In On Outfront Media

Large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Outfront Media during the first quarter valued at approximately $206,000. Acadian Asset Management LLC bought a new stake in shares of Outfront Media in the 1st quarter worth $598,000. MetLife Investment Management LLC lifted its holdings in shares of Outfront Media by 48.8% in the first quarter. MetLife Investment Management LLC now owns 77,284 shares of the financial services provider’s stock valued at $2,197,000 after buying an additional 25,340 shares during the period. BlackRock Inc. boosted its stake in Outfront Media by 3.2% during the first quarter. BlackRock Inc. now owns 19,931,847 shares of the financial services provider’s stock valued at $566,663,000 after buying an additional 610,565 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in Outfront Media by 70.4% during the first quarter. APG Asset Management N.V. now owns 75,500 shares of the financial services provider’s stock worth $1,929,000 after acquiring an additional 31,200 shares during the period.

Outfront Media Company 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.