Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stock Has Average Target Price of $2.24

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has earned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $2.24.

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Clear Channel Outdoor to a “hold” rating in a research note on Saturday. Weiss Ratings raised Clear Channel Outdoor from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 9th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CCO. State of Alaska Department of Revenue bought a new position in Clear Channel Outdoor during the third quarter valued at approximately $48,000. WINTON GROUP Ltd bought a new position in Clear Channel Outdoor in the second quarter valued at about $57,000. Amundi grew its stake in shares of Clear Channel Outdoor by 94.9% during the 2nd quarter. Amundi now owns 86,325 shares of the business services provider’s stock valued at $209,000 after purchasing an additional 42,028 shares during the period. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Clear Channel Outdoor in the 2nd quarter worth approximately $3,801,000. Finally, Groupe la Francaise boosted its holdings in shares of Clear Channel Outdoor by 55.0% in the second quarter. Groupe la Francaise now owns 1,971,103 shares of the business services provider’s stock worth $4,770,000 after buying an additional 699,163 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

NYSE:CCO opened at $2.43 on Tuesday. Clear Channel Outdoor has a 1-year low of $1.36 and a 1-year high of $2.46. The business has a 50 day moving average of $2.38 and a 200 day moving average of $2.39. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -11.57 and a beta of 2.01.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Tuesday, August 4th. The business services provider reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $438.04 million during the quarter, compared to analysts’ expectations of $423.62 million. As a group, sell-side analysts anticipate that Clear Channel Outdoor will post -0.05 EPS for the current year.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company that provides brands and agencies with advertising space across physical and digital media formats. Its portfolio includes traditional and digital billboards, street furniture, transit displays, airport advertising, and other out-of-home media assets.

The company sells advertising inventory in high-traffic locations, including roadside corridors, urban centers, transportation hubs, and airports. Its digital displays allow advertisers to deliver flexible, time-sensitive campaigns, while its traditional displays support longer-term brand and local advertising initiatives.