Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been assigned an average recommendation of “Reduce” from the seven research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $2.3060.

A number of analysts have recently issued reports on CCO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Friday. Wells Fargo & Company raised their price target on Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a report on Friday, February 27th. Finally, TD Cowen set a $2.50 price objective on Clear Channel Outdoor in a report on Tuesday, February 10th.

Clear Channel Outdoor Stock Up 0.2%

Shares of Clear Channel Outdoor stock opened at $2.37 on Friday. The company has a 50-day simple moving average of $2.31 and a 200 day simple moving average of $2.01. Clear Channel Outdoor has a 12-month low of $0.81 and a 12-month high of $2.43. The stock has a market capitalization of $1.18 billion, a P/E ratio of 47.31 and a beta of 2.30.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Thursday, February 26th. The business services provider reported $0.02 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 analyst estimates of $449.10 million.

Hedge Funds Weigh In On Clear Channel Outdoor

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCO. 140 Summer Partners LP bought a new stake in Clear Channel Outdoor in the fourth quarter valued at approximately $8,806,000. Barclays PLC boosted its stake in Clear Channel Outdoor by 3,017.0% during the 3rd quarter. Barclays PLC now owns 4,109,743 shares of the business services provider’s stock valued at $6,493,000 after purchasing an additional 3,977,895 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Clear Channel Outdoor in the 2nd quarter worth $3,510,000. Occam Crest Management LP lifted its position in shares of Clear Channel Outdoor by 423.7% during the 4th quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock worth $7,524,000 after buying an additional 2,754,300 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Clear Channel Outdoor during the fourth quarter worth $5,925,000. 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.