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

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

Several research analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Friday, March 27th. TD Cowen set a $2.50 target price on Clear Channel Outdoor in a research report on Tuesday, February 10th. Finally, Wells Fargo & Company increased their target price on Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a research note on Friday, February 27th.

Institutional Trading of Clear Channel Outdoor

Several large investors have recently bought and sold shares of CCO. 140 Summer Partners LP purchased a new position in Clear Channel Outdoor in the 4th quarter valued at about $8,806,000. Barclays PLC lifted its stake in shares of Clear Channel Outdoor by 3,017.0% in the third quarter. Barclays PLC now owns 4,109,743 shares of the business services provider’s stock worth $6,493,000 after acquiring an additional 3,977,895 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Clear Channel Outdoor in the second quarter worth about $3,510,000. Occam Crest Management LP boosted its holdings in 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 valued at $7,524,000 after purchasing an additional 2,754,300 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Clear Channel Outdoor in the fourth quarter valued at about $5,925,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Up 0.2%

CCO opened at $2.38 on Friday. Clear Channel Outdoor has a 52-week low of $0.81 and a 52-week high of $2.43. The company has a 50 day moving average of $2.32 and a two-hundred day moving average of $2.01. The company has a market cap of $1.18 billion, a P/E ratio of 47.51 and a beta of 2.26.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Thursday, February 26th. The business services provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $461.52 million during the quarter, compared to analysts’ expectations of $449.10 million.

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.