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

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 subject of several other research reports. ValuEngine raised shares of Clear Channel Outdoor Holdings from a sell rating to a hold rating in a research report on Friday, August 11th. BidaskClub upgraded shares of Clear Channel Outdoor Holdings from a sell rating to a hold rating in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $7.81.

Shares of Clear Channel Outdoor Holdings (NYSE CCO) traded up 1.03% during midday trading on Tuesday, hitting $4.90. 70,127 shares of the stock were exchanged. Clear Channel Outdoor Holdings has a 12-month low of $3.35 and a 12-month high of $6.35. The firm has a market cap of $1.77 billion, a P/E ratio of 49.00 and a beta of 1.56. The stock’s 50 day moving average is $4.12 and its 200 day moving average is $4.65.

Clear Channel Outdoor Holdings (NYSE:CCO) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The firm had revenue of $672.32 million during the quarter, compared to the consensus estimate of $672.22 million. Clear Channel Outdoor Holdings had a negative return on equity of 3.35% and a net margin of 1.40%. On average, equities research analysts forecast that Clear Channel Outdoor Holdings will post ($0.09) earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Clear Channel Outdoor Holdings by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 5,696,145 shares of the business services provider’s stock valued at $27,626,000 after purchasing an additional 300,142 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of Clear Channel Outdoor Holdings during the first quarter valued at approximately $215,000. Vanguard Group Inc. boosted its position in shares of Clear Channel Outdoor Holdings by 5.8% during the first quarter. Vanguard Group Inc. now owns 2,769,397 shares of the business services provider’s stock valued at $16,754,000 after buying an additional 151,067 shares during the last quarter. Blue Sky Asset Management LLC purchased a new position in shares of Clear Channel Outdoor Holdings during the first quarter valued at approximately $1,453,000. Finally, Bank of America Corp DE boosted its position in shares of Clear Channel Outdoor Holdings by 819.0% during the first quarter. Bank of America Corp DE now owns 57,685 shares of the business services provider’s stock valued at $349,000 after buying an additional 51,408 shares during the last quarter. 9.64% of the stock is owned by hedge funds and other institutional investors.

About Clear Channel Outdoor Holdings

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).

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