The stock of Outfront Media Inc. (REIT) (NYSE:OUT) is now priced at $17.25 and the shares are 0.09 points up or 0.52% higher compared to its previous closing price of $17.16. The stock had 1.139 million contracts set over the past session. OUT shares’ daily volume is compared to its average trading volume at 2.033 million shares. However, it has a float of 143 million and although its performance was 13.79% over the week, it’s one to watch. Analysts have given the OUT stock a yearly average price target of $17.75 per share. It means the stock’s upside potential is 2.9% with the OUT share price recently placing at $16.81 to $17.32. However, some brokerage firms have priced the stock below the average, including one that has called $17.
The shorts are running away from the Outfront Media Inc. (REIT) stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the OUT shares have declined. Short interest in the stock represents just 4.19% of its float, but the volume has dropped by 0.
In the last trading session, Outfront Media Inc. (REIT) (NYSE:OUT) raised by $2.09 over the week and gained $2.84 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $31.2. The stock recorded its established 52-week high on 02/03/20.
Since 03/23/20, the stock has traded to a low of $7.07 at 143.99%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.56. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Outfront Media Inc. (REIT)’s two-week RSI is 67.68. This suggests that the stock is neutral at the moment and that OUT shares’ price movement remains stable. The stochastic readings are equally revealing at 89.56% meaning the OUT share price is currently in oversold territory.
The technical chart shows that the OUT stock will likely settle at between $17.44 and $17.64 per share. However, if the stock dips below $16.93, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $16.62.
Currently, the stock is trading in the green of MACD, with a reading of 0.84. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Morgan Stanley cut their recommendation for OUT from Overweight to Equal-Weight in April 20 review while maintai their target price of $13. Imperial Capital analysts see the stock as a Outperform, but they also dropped the share’s target price from $35 to $24 in a flash note released to investors on March 20. Imperial Capital analysts see the stock as Outperform. Nonetheless, the analysts revised the share prices up on February 19, placing it at $35 from $32.
The average rating for the OUT equity is 2 and is currently gathering a bullish momentum. Of 6 analysts tracking Outfront Media Inc. (REIT) polled by Reuters, 2 rated OUT as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the OUT stock price is 31.48X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 95.8 above the group’s average of 92. Outfront Media Inc. (REIT) has its P/E ratio at 2.6, which means that the stock is currently trading at a discount relative to the 8.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Outfront Media Inc. (REIT) (NYSE:OUT) will decrease by about -99.88%, which will see them reach $286 million. The company’s full-year revenues are, however, expected to diminish by about -28.65%, down from $1780 million to $1270 million. OUT’s expected adjusted earnings should drop almost -166.67% to end up at -$0.18 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -148.45% to record -$0.47/share.