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

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been given a consensus recommendation of “Reduce” by the five analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2.2920.

Separately, Weiss Ratings upgraded shares of Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th.

Clear Channel Outdoor Price Performance

Shares of CCO stock opened at $2.38 on Friday. Clear Channel Outdoor has a 1-year low of $1.27 and a 1-year high of $2.44. The stock’s 50-day moving average is $2.39 and its 200 day moving average is $2.39. The company has a market cap of $1.21 billion, a P/E ratio of -11.36 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Wednesday, August 5th. The business services provider reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $438.04 million during the quarter, compared to the consensus estimate of $423.62 million. On average, analysts anticipate that Clear Channel Outdoor will post -0.05 EPS for the current year.

Institutional Trading of Clear Channel Outdoor

Several hedge funds and other institutional investors have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Clear Channel Outdoor in the fourth quarter valued at about $31,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Clear Channel Outdoor during the first quarter worth about $32,000. Quantbot Technologies LP purchased a new stake in shares of Clear Channel Outdoor during the second quarter worth about $33,000. Transmarket Holdings LP acquired a new position in shares of Clear Channel Outdoor during the first quarter valued at about $36,000. Finally, Rangeley Capital LLC acquired a new position in shares of Clear Channel Outdoor during the first quarter valued at about $44,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc is an out-of-home advertising company that provides businesses and organizations with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, street furniture, transit advertising, airport displays, wallscapes, and other large-format advertising installations.

The company sells advertising campaigns to national, regional, and local advertisers and supports them with audience insights, campaign planning, creative services, and digital-out-of-home capabilities.