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

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been assigned a consensus rating of “Reduce” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $2.3167.

A number of equities analysts have commented on CCO shares. TD Cowen reissued a “buy” rating on shares of Clear Channel Outdoor in a research note on Monday, October 20th. Citigroup increased their price objective on Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 29th. Finally, Morgan Stanley set a $2.00 target price on shares of Clear Channel Outdoor in a research note on Monday, November 10th.

Institutional Trading of Clear Channel Outdoor

Several hedge funds and other institutional investors have recently made changes to their positions in CCO. Sanders Morris Harris LLC purchased a new stake in Clear Channel Outdoor during the 3rd quarter valued at $25,000. CWM LLC increased its stake in Clear Channel Outdoor by 97.9% in the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock worth $26,000 after buying an additional 8,248 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Clear Channel Outdoor during the fourth quarter valued at approximately $31,000. Burney Co. purchased a new position in shares of Clear Channel Outdoor during the third quarter valued at about $32,000. Finally, Advisors Capital Management LLC boosted its position in shares of 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 valued at $36,000 after acquiring an additional 11,000 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Trading Down 1.4%

Shares of Clear Channel Outdoor stock opened at $2.13 on Thursday. The company’s 50-day moving average price is $2.09 and its 200-day moving average price is $1.68. Clear Channel Outdoor has a 12-month low of $0.81 and a 12-month high of $2.30. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -213.00 and a beta of 2.31.

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

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.