Clear Channel Outdoor Holdings, Inc. (CCO) Upgraded to Hold by Zacks Investment Research

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, October 17th.

According to Zacks, “Clear Channel Outdoor Holdings, based in San Antonio, TX, is a global leader in outdoor advertising displays in countries across continents. In the United States, the company operates advertising displays and has a presence of the top DMA regions. It manages a large portion of Spectacular Displays in Times Square as well as Airport, Taxi and Mall advertising worldwide. Adshel is the company’s International street furniture division. “

Several other equities analysts also recently issued reports on CCO. ValuEngine raised shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub raised shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.58.

Shares of Clear Channel Outdoor Holdings (NYSE CCO) remained flat at $$3.80 during trading hours on Tuesday. The company had a trading volume of 47,022 shares, compared to its average volume of 196,006. Clear Channel Outdoor Holdings has a fifty-two week low of $3.35 and a fifty-two week high of $6.35. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of -4.20. The stock has a market cap of $1,380.00, a price-to-earnings ratio of 38.00 and a beta of 1.63.

Clear Channel Outdoor Holdings (NYSE:CCO) last issued its earnings results on Thursday, August 3rd. The business services provider reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Clear Channel Outdoor Holdings had a net margin of 1.40% and a negative return on equity of 3.35%. The firm had revenue of $672.32 million for the quarter, compared to analyst estimates of $672.22 million. equities research analysts forecast that Clear Channel Outdoor Holdings will post -0.11 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in Clear Channel Outdoor Holdings by 5.9% during the first quarter. Bank of New York Mellon Corp now owns 146,600 shares of the business services provider’s stock worth $887,000 after purchasing an additional 8,192 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Clear Channel Outdoor Holdings by 16.9% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,765 shares of the business services provider’s stock worth $126,000 after purchasing an additional 3,000 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Clear Channel Outdoor Holdings by 2.3% during the first quarter. Alliancebernstein L.P. now owns 122,601 shares of the business services provider’s stock worth $742,000 after purchasing an additional 2,800 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Clear Channel Outdoor Holdings by 5.8% during the first quarter. Vanguard Group Inc. now owns 2,769,397 shares of the business services provider’s stock worth $16,754,000 after purchasing an additional 151,067 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Clear Channel Outdoor Holdings by 8.3% during the first quarter. Geode Capital Management LLC now owns 279,116 shares of the business services provider’s stock worth $1,688,000 after purchasing an additional 21,374 shares during the last quarter. Hedge funds and other institutional investors own 9.60% of the company’s stock.

Clear Channel Outdoor Holdings Company Profile

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).

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