Outfront Media Inc (OUT) is Upgraded by Wells Fargo to Outperform

Outfront Media Inc (OUT) was Upgraded by Wells Fargo to ” Outperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on Outfront Media Inc. Loop Capital Initiated Outfront Media Inc on Sep 13, 2016 to “Hold”, Price Target of the shares are set at $23.

On the company’s financial health, Outfront Media Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $0.53. The company had revenue of $382.80 million for the quarter, compared to analysts expectations of $382.38 million. The company’s revenue was down -1.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

Outfront Media Inc opened for trading at $22.59 and hit $23.01 on the upside on Monday, eventually ending the session at $22.99, with a gain of 1.59% or 0.36 points. The heightened volatility saw the trading volume jump to 6,03,969 shares. Company has a market cap of $3,174 M.

Investors should note that on Oct 27, 2016, Outfront Media Inc announced a cash dividend of $0.3400. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Dec 30, 2016.

In a different news, on Sep 15, 2016, Andrew Sriubas (EVP,Strategic Planning & Dev.) purchased 6,000 shares at $20.88 per share price. According to the SEC, on Sep 12, 2016, Jeremy J. Male (CEO) purchased 5,000 shares at $21.38 per share price. On Sep 6, 2016, Donald R Shassian (CFO) purchased 5,000 shares at $21.90 per share price, according to the Form-4 filing with the securities and exchange commission.

OUTFRONT Media Inc. formerly CBS Outdoor Americas Inc. is a provider of advertising space on out-of-home advertising structures and sites. The Company operates in over 180 markets in the United States Canada and Latin America. In addition to leasing displays the Company also provides other services to its customers such as pre-campaign category research creative design support and post-campaign tracking and analytics. It manages its business through two segments United States and International. The United States segment includes the Company’s business in 25 markets in the United States. The Company’s portfolio includes sites such as the Bay Bridge in San Francisco various locations along Sunset Boulevard in Los Angeles and various sites in and around both Grand Central Station and Times Square in New York. The Company’s International segment includes its operations in Canada and Latin America including Mexico Argentina Brazil Chile and Uruguay.

Outfront Media Inc

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