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

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have earned an average rating of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2.2920.

Several analysts recently issued reports on CCO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Friday, March 27th. 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. Finally, Wells Fargo & Company boosted 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.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CCO. 140 Summer Partners LP purchased a new position in Clear Channel Outdoor during the 4th quarter valued at about $8,806,000. Barclays PLC increased its holdings 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 period. Occam Crest Management LP increased its holdings in 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 valued at $7,524,000 after purchasing an additional 2,754,300 shares during the period. Marshall Wace LLP purchased a new position in Clear Channel Outdoor during the 4th quarter valued at about $5,925,000. Finally, EVR Research LP purchased a new position in Clear Channel Outdoor during the 3rd quarter valued at about $3,950,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Down 0.2%

Clear Channel Outdoor stock opened at $2.39 on Friday. The company has a market capitalization of $1.21 billion, a PE ratio of -13.25 and a beta of 1.99. The firm has a fifty day simple moving average of $2.38 and a two-hundred day simple moving average of $2.19. Clear Channel Outdoor has a twelve month low of $1.00 and a twelve month high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results 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 business had revenue of $373.86 million for the quarter, compared to analyst estimates of $348.71 million. As a group, equities analysts expect that Clear Channel Outdoor will post -0.04 earnings per share for the current fiscal year.

About Clear Channel Outdoor

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.