Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Given Average Recommendation of “Hold” by Brokerages

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have earned an average rating of “Hold” from the eight analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $2.3167.

A number of research firms recently weighed in on CCO. TD Cowen upped their price objective on shares of Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a research note on Monday, October 20th. Cowen reaffirmed a “buy” rating on shares of Clear Channel Outdoor in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, December 29th. Morgan Stanley set a $2.00 price objective on shares of Clear Channel Outdoor in a research note on Monday, November 10th. Finally, Wall Street Zen cut Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO opened at $2.07 on Friday. Clear Channel Outdoor has a 52-week low of $0.81 and a 52-week high of $2.26. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -206.50 and a beta of 2.26. The stock has a 50 day moving average price of $2.00 and a 200 day moving average price of $1.57.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Thursday, November 6th. The business services provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $405.64 million for the quarter, compared to the consensus estimate of $402.03 million.

Hedge Funds Weigh In On Clear Channel Outdoor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its position in Clear Channel Outdoor by 97.9% during the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock worth $26,000 after purchasing an additional 8,248 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Clear Channel Outdoor by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock valued at $234,000 after buying an additional 8,976 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Clear Channel Outdoor by 61.8% in the 4th quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 9,019 shares during the period. Advisors Capital Management LLC raised its stake in Clear Channel Outdoor by 91.7% in the 3rd quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock worth $36,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Clear Channel Outdoor by 2.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider’s stock worth $657,000 after acquiring an additional 14,855 shares during the period. Hedge funds and other institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.