CLEAR CHANNEL O/SH (NYSE:CCO) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of CLEAR CHANNEL O/SH (NYSE:CCO) from a strong sell rating to a hold rating in a research note published on Monday, Zacks.com reports.

According to Zacks, “Clear Channel Outdoor Holdings, based in San Antonio, TX, is a global leader in outdoor advertising displays in countries across continents. In the United States, the company operates advertising displays and has a presence of the top DMA regions. It manages a large portion of Spectacular Displays in Times Square as well as Airport, Taxi and Mall advertising worldwide. Adshel is the company’s International street furniture division. “

Other research analysts have also recently issued research reports about the company. ValuEngine upgraded CLEAR CHANNEL O/SH from a hold rating to a buy rating in a research report on Tuesday, December 3rd. Wells Fargo & Co assumed coverage on CLEAR CHANNEL O/SH in a research note on Monday, September 23rd. They set an outperform rating and a $4.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $6.90.

NYSE CCO opened at $2.90 on Monday. The stock has a market cap of $1.32 billion, a PE ratio of -5.00 and a beta of 0.85. The firm’s fifty day moving average price is $2.69 and its two-hundred day moving average price is $2.88. CLEAR CHANNEL O/SH has a fifty-two week low of $2.06 and a fifty-two week high of $5.76.

CLEAR CHANNEL O/SH (NYSE:CCO) last announced its earnings results on Wednesday, November 6th. The business services provider reported ($0.46) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.36). The firm had revenue of $653.45 million for the quarter, compared to analyst estimates of $655.36 million. As a group, analysts expect that CLEAR CHANNEL O/SH will post -0.67 EPS for the current year.

Large investors have recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of CLEAR CHANNEL O/SH by 1.2% during the 2nd quarter. Northern Trust Corp now owns 424,595 shares of the business services provider’s stock valued at $2,004,000 after purchasing an additional 4,978 shares in the last quarter. Rhumbline Advisers raised its position in CLEAR CHANNEL O/SH by 12.4% during the 3rd quarter. Rhumbline Advisers now owns 62,135 shares of the business services provider’s stock valued at $157,000 after purchasing an additional 6,863 shares during the last quarter. SG Americas Securities LLC raised its position in shares of CLEAR CHANNEL O/SH by 71.4% in the 3rd quarter. SG Americas Securities LLC now owns 20,698 shares of the business services provider’s stock worth $52,000 after acquiring an additional 8,621 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of CLEAR CHANNEL O/SH during the 2nd quarter valued at $47,000. Finally, Bank of New York Mellon Corp raised its holdings in CLEAR CHANNEL O/SH by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 202,769 shares of the business services provider’s stock worth $957,000 after purchasing an additional 12,166 shares during the period. Institutional investors own 96.83% of the company’s stock.

About CLEAR CHANNEL O/SH

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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Analyst Recommendations for CLEAR CHANNEL O/SH (NYSE:CCO)

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