Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives Average Recommendation of “Reduce” from Analysts

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has been assigned an average recommendation of “Reduce” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $2.2920.

A number of equities research analysts have recently weighed in on the stock. TD Cowen restated a “hold” rating and issued a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Friday, March 27th. Finally, Wells Fargo & Company increased their price objective on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a report on Friday, February 27th.

Insider Buying and Selling at Clear Channel Outdoor

In related news, Director Raymond T. White sold 23,435,796 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $2.40, for a total value of $56,245,910.40. Following the sale, the director owned 187,371 shares in the company, valued at $449,690.40. This represents a 99.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ieq Capital LLC boosted its holdings in Clear Channel Outdoor by 8.3% during the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 4,493 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Clear Channel Outdoor by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock worth $234,000 after acquiring an additional 8,976 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Clear Channel Outdoor by 61.8% during the 4th quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock worth $52,000 after acquiring an additional 9,019 shares in the last quarter. Advisors Capital Management LLC boosted its stake in shares of Clear Channel Outdoor by 91.7% in the third quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock valued at $36,000 after buying an additional 11,000 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at approximately $27,000. 85.52% of the stock is owned by institutional investors and hedge funds.

Clear Channel Outdoor Stock Down 0.2%

Shares of Clear Channel Outdoor stock opened at $2.41 on Wednesday. Clear Channel Outdoor has a twelve month low of $1.00 and a twelve month high of $2.43. The company’s fifty day moving average is $2.39 and its 200 day moving average is $2.27. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -13.36 and a beta of 1.96.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $373.86 million for the quarter, compared to the consensus estimate of $348.71 million. As a group, equities analysts anticipate that Clear Channel Outdoor will post -0.04 earnings per share for the current fiscal year.

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.