Clear Channel Outdoor (NYSE:CCO) Share Price Passes Above 200-Day Moving Average – What’s Next?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.61 and traded as high as $2.17. Clear Channel Outdoor shares last traded at $2.15, with a volume of 1,653,497 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cowen restated a “buy” rating on shares of Clear Channel Outdoor in a report on Monday, October 20th. Zacks Research cut shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. TD Cowen lifted their price target on shares of Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a report on Monday, October 20th. UBS Group set a $2.50 price target on Clear Channel Outdoor in a research report on Thursday, September 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.32.

Clear Channel Outdoor Trading Down 1.2%

The firm has a 50-day moving average of $2.03 and a 200-day moving average of $1.62. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -211.50 and a beta of 2.26.

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

Institutional Trading of Clear Channel Outdoor

Several institutional investors and hedge funds have recently bought and sold shares of CCO. Sanders Morris Harris LLC purchased a new stake in shares of Clear Channel Outdoor in the 3rd quarter valued at $25,000. CWM LLC boosted its holdings in Clear Channel Outdoor by 97.9% in the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 8,248 shares during the last quarter. Burney Co. purchased a new stake in Clear Channel Outdoor in the third quarter valued at $32,000. Advisors Capital Management LLC grew its position in Clear Channel Outdoor by 91.7% during the 3rd quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock worth $36,000 after purchasing an additional 11,000 shares during the period. Finally, Zacks Investment Management purchased a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at about $36,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Company Profile

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.