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

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has received an average rating of “Reduce” from the six research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.2920.

A number of equities analysts have issued reports on the company. TD Cowen restated a “hold” rating and set a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th.

Clear Channel Outdoor Trading Down 0.6%

CCO stock opened at $2.40 on Thursday. The firm has a market cap of $1.22 billion, a PE ratio of -13.36 and a beta of 1.95. The stock has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.35. Clear Channel Outdoor has a 1-year low of $1.00 and a 1-year high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $373.86 million during the quarter, compared to the consensus estimate of $348.71 million. On average, analysts forecast that Clear Channel Outdoor will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other Clear Channel Outdoor news, Director Raymond T. White sold 2,500,900 shares of Clear Channel Outdoor stock in a transaction on Monday, June 15th. The shares were sold at an average price of $2.40, for a total value of $6,002,160.00. Following the completion of the sale, the director directly owned 91,003 shares of the company’s stock, valued at approximately $218,407.20. The trade was a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 26,239,967 shares of company stock valued at $62,975,921 in the last ninety days. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Clear Channel Outdoor

Several large investors have recently made changes to their positions in the company. Captrust Financial Advisors acquired a new position in Clear Channel Outdoor during the 4th quarter worth approximately $27,000. EntryPoint Capital LLC bought a new position in shares of Clear Channel Outdoor in the 4th quarter worth $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Clear Channel Outdoor during the 4th quarter valued at $31,000. CTC Alternative Strategies Ltd. bought a new position in shares of Clear Channel Outdoor in the first quarter valued at $32,000. Finally, Sargent Investment Group LLC acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter worth about $33,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

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.