Clear Channel Outdoor Holdings, Inc. (CCO) – What Are Researchers Saying About This Stock?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has received a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.24.

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Clear Channel Outdoor from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Wall Street Zen raised shares of Clear Channel Outdoor to a “hold” rating in a report on Saturday.

Hedge Funds Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Clear Channel Outdoor during the 2nd quarter valued at about $73,669,000. Glazer Capital LLC acquired a new position in shares of Clear Channel Outdoor in the second quarter valued at about $29,763,000. Man Group plc acquired a new position in shares of Clear Channel Outdoor in the second quarter valued at about $12,056,000. 140 Summer Partners LP purchased a new position in shares of Clear Channel Outdoor in the fourth quarter worth about $8,806,000. Finally, Occam Crest Management LP raised its stake in shares of Clear Channel Outdoor by 423.7% in the fourth quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock worth $7,524,000 after purchasing an additional 2,754,300 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Up 0.4%

CCO stock opened at $2.43 on Tuesday. The firm has a 50 day moving average of $2.38 and a 200 day moving average of $2.39. The stock has a market capitalization of $1.24 billion, a PE ratio of -11.57 and a beta of 2.01. Clear Channel Outdoor has a 52 week low of $1.36 and a 52 week high of $2.46.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Tuesday, August 4th. The business services provider reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $438.04 million for the quarter, compared to analysts’ expectations of $423.62 million. On average, equities research analysts expect that Clear Channel Outdoor will post -0.05 earnings per share for the current year.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company that provides brands and agencies with advertising space across physical and digital media formats. Its portfolio includes traditional and digital billboards, street furniture, transit displays, airport advertising, and other out-of-home media assets.

The company sells advertising inventory in high-traffic locations, including roadside corridors, urban centers, transportation hubs, and airports. Its digital displays allow advertisers to deliver flexible, time-sensitive campaigns, while its traditional displays support longer-term brand and local advertising initiatives.