Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Given Average Rating of “Reduce” by Analysts

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has received an average rating of “Reduce” from the seven analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.3060.

Several brokerages have issued reports on CCO. TD Cowen set a $2.50 target price on Clear Channel Outdoor in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 29th. Zacks Research downgraded shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Wall Street Zen cut shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Morgan Stanley set a $2.00 price target on shares of Clear Channel Outdoor in a research note on Monday, November 10th.

Clear Channel Outdoor Trading Up 0.6%

Shares of CCO opened at $2.40 on Monday. The firm has a market cap of $1.19 billion, a PE ratio of 47.91 and a beta of 2.30. The firm has a fifty day simple moving average of $2.21 and a two-hundred day simple moving average of $1.84. Clear Channel Outdoor has a 1-year low of $0.81 and a 1-year high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Thursday, February 26th. The business services provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $461.52 million during the quarter, compared to analysts’ expectations of $449.10 million.

Institutional Trading of Clear Channel Outdoor

Several hedge funds have recently bought and sold shares of the stock. Coastline Complete Wealth LLC bought a new position in shares of Clear Channel Outdoor in the fourth quarter worth about $55,000. Alberta Investment Management Corp purchased a new stake in Clear Channel Outdoor in the 4th quarter worth approximately $884,000. Mercer Global Advisors Inc. ADV bought a new stake in Clear Channel Outdoor during the 4th quarter worth approximately $38,000. Zazove Associates LLC lifted its holdings in Clear Channel Outdoor by 11.0% during the fourth quarter. Zazove Associates LLC now owns 1,360,000 shares of the business services provider’s stock valued at $3,006,000 after purchasing an additional 135,000 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Clear Channel Outdoor by 120.6% in the fourth quarter. NewEdge Advisors LLC now owns 30,953 shares of the business services provider’s stock worth $68,000 after purchasing an additional 16,924 shares during the period. Institutional investors own 85.52% of the company’s stock.

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.