Barrington Research Reaffirms “Buy” Rating for Clear Channel Outdoor (CCO)

Barrington Research reaffirmed their buy rating on shares of Clear Channel Outdoor (NYSE:CCO) in a report published on Thursday morning, AnalystRatings.com reports. Barrington Research currently has a $6.50 target price on the business services provider’s stock.

CCO has been the subject of several other reports. ValuEngine upgraded Clear Channel Outdoor from a buy rating to a strong-buy rating in a research note on Wednesday, January 2nd. BMO Capital Markets restated an average rating and issued a $17.50 target price on shares of Clear Channel Outdoor in a research note on Tuesday, February 12th. Zacks Investment Research downgraded Clear Channel Outdoor from a buy rating to a hold rating in a research note on Tuesday, January 15th. Finally, TheStreet upgraded Clear Channel Outdoor from a d rating to a c- rating in a research note on Friday, March 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $10.00.

Shares of Clear Channel Outdoor stock opened at $5.23 on Thursday. Clear Channel Outdoor has a 1-year low of $4.22 and a 1-year high of $6.38.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Tuesday, March 5th. The business services provider reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.08. The business had revenue of $747.59 million for the quarter, compared to analyst estimates of $736.40 million. As a group, analysts anticipate that Clear Channel Outdoor will post -0.23 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Clear Channel Outdoor by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,164,819 shares of the business services provider’s stock valued at $18,831,000 after buying an additional 76,970 shares during the period. Vanguard Group Inc boosted its stake in Clear Channel Outdoor by 2.5% during the 3rd quarter. Vanguard Group Inc now owns 3,164,819 shares of the business services provider’s stock valued at $18,831,000 after purchasing an additional 76,970 shares during the last quarter. Gabelli Funds LLC boosted its stake in Clear Channel Outdoor by 2.0% during the 4th quarter. Gabelli Funds LLC now owns 3,118,401 shares of the business services provider’s stock valued at $16,185,000 after purchasing an additional 60,228 shares during the last quarter. BlackRock Inc. boosted its stake in Clear Channel Outdoor by 11.0% during the 3rd quarter. BlackRock Inc. now owns 2,821,401 shares of the business services provider’s stock valued at $16,787,000 after purchasing an additional 279,613 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in Clear Channel Outdoor by 6.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,737,363 shares of the business services provider’s stock valued at $14,207,000 after purchasing an additional 167,241 shares during the last quarter. Institutional investors own 8.94% of the company’s stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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