Zacks Investment Research upgraded shares of Clear Channel Outdoor Holdings Inc. (NYSE:CCO) from a strong sell rating to a hold rating in a report published on Tuesday.

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. “

CCO has been the topic of a number of other research reports. TheStreet downgraded Clear Channel Outdoor Holdings from a hold rating to a sell rating in a research report on Wednesday, September 14th. Loop Capital began coverage on Clear Channel Outdoor Holdings in a report on Monday, September 12th. They issued a sell rating and a $5.50 target price on the stock. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $5.00.

Shares of Clear Channel Outdoor Holdings (NYSE:CCO) traded up 1.74% during mid-day trading on Tuesday, reaching $5.85. The company had a trading volume of 10,108 shares. Clear Channel Outdoor Holdings has a 12-month low of $2.97 and a 12-month high of $7.74. The stock has a market capitalization of $2.11 billion, a P/E ratio of 292.50 and a beta of 1.49. The firm’s 50 day moving average is $6.31 and its 200-day moving average is $6.07.

Clear Channel Outdoor Holdings (NYSE:CCO) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.22. The company had revenue of $712.15 million for the quarter, compared to analyst estimates of $721.57 million. Clear Channel Outdoor Holdings had a negative return on equity of 3.04% and a net margin of 0.25%. On average, analysts expect that Clear Channel Outdoor Holdings will post $0.26 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in shares of Clear Channel Outdoor Holdings by 2.7% in the second quarter. Rhumbline Advisers now owns 29,543 shares of the company’s stock valued at $184,000 after buying an additional 781 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Clear Channel Outdoor Holdings by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 82,478 shares of the company’s stock valued at $514,000 after buying an additional 2,058 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Clear Channel Outdoor Holdings by 3.8% in the second quarter. Teachers Advisors Inc. now owns 87,640 shares of the company’s stock valued at $545,000 after buying an additional 3,177 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Clear Channel Outdoor Holdings by 1.1% in the second quarter. BlackRock Fund Advisors now owns 309,851 shares of the company’s stock valued at $1,927,000 after buying an additional 3,447 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Clear Channel Outdoor Holdings by 45.3% in the second quarter. Panagora Asset Management Inc. now owns 39,970 shares of the company’s stock valued at $249,000 after buying an additional 12,463 shares in the last quarter. 9.32% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Holdings Company Profile

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company owns and operates billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. It operates in two segments: Americas outdoor advertising (Americas) and International outdoor advertising (International).

5 Day Chart for NYSE:CCO

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