Barrington analyst James Goss maintained a Buy rating on Outfront Media (NYSE: OUT) today and set a price target of $26. The company’s shares opened today at $19.68.
Goss commented:
“We continue to like this story as a well-positioned major competitor in an industry sector that is undergoing transformation that should increase its overall importance and attractiveness. Aside from the overall impact of digital, OUTFRONT has also won important transit contracts in Boston, New York and now San Francisco. Importantly, OUT provides an annual dividend rate of $1.44, creating a current yield of 7.5%, providing excellent total return and some cushion from any earnings variability. The important brand building capabilities of out of home media are valuable assets to advertisers in a shifting media and technology environment.”
According to TipRanks.com, Goss is a 5-star analyst with an average return of 13.3% and a 60.8% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Sirius XM Holdings Inc, and Cinemark Holdings Inc.
Outfront Media has an analyst consensus of Hold.
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Based on Outfront Media’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $401 million and quarterly net profit of $34.8 million. In comparison, last year the company earned revenue of $331 million and had a net profit of $2.5 million.
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OUTFRONT Media, Inc. engages in the business of providing leasing services of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The company operates through the following segments: U .S. Billboard & Transit and International & Sports Marketing.
