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

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has been given a consensus rating of “Reduce” by the seven ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $2.3060.

A number of research firms have recently commented on CCO. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 29th. Wells Fargo & Company upped their price target on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a research note on Friday. Zacks Research lowered shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Wall Street Zen cut shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, TD Cowen set a $2.50 price target on shares of Clear Channel Outdoor in a report on Tuesday, February 10th.

Institutional Trading of Clear Channel Outdoor

A number of institutional investors and hedge funds have recently modified their holdings of CCO. Anson Funds Management LP lifted its holdings in shares of Clear Channel Outdoor by 8.8% during the fourth quarter. Anson Funds Management LP now owns 19,842,452 shares of the business services provider’s stock valued at $43,852,000 after purchasing an additional 1,604,125 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Clear Channel Outdoor by 10.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 8,126,375 shares of the business services provider’s stock worth $17,959,000 after buying an additional 776,500 shares during the last quarter. JPMorgan Chase & Co. raised its position in Clear Channel Outdoor by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,998,595 shares of the business services provider’s stock worth $15,467,000 after buying an additional 260,716 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Clear Channel Outdoor by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,389,630 shares of the business services provider’s stock valued at $11,911,000 after acquiring an additional 582,007 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Clear Channel Outdoor by 22.9% during the 1st quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock valued at $5,432,000 after acquiring an additional 912,632 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO opened at $2.40 on Monday. The company has a 50 day simple moving average of $2.21 and a two-hundred day simple moving average of $1.84. Clear Channel Outdoor has a fifty-two week low of $0.81 and a fifty-two week high of $2.43. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 47.91 and a beta of 2.30.

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

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.