Clear Channel Outdoor (CCO) Given Consensus Rating of “Hold” by Brokerages

Clear Channel Outdoor (NYSE:CCO) has received an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $8.00.

Several equities research analysts have recently commented on CCO shares. ValuEngine downgraded shares of Clear Channel Outdoor from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Monday, March 12th. Finally, Cleveland Research downgraded shares of Clear Channel Outdoor from a “buy” rating to a “neutral” rating in a research note on Friday, February 9th.

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Shares of NYSE:CCO remained flat at $$4.95 on Friday. 26,175 shares of the stock traded hands, compared to its average volume of 193,164. Clear Channel Outdoor has a 52 week low of $3.35 and a 52 week high of $6.15. The company has a debt-to-equity ratio of -4.10, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $1,783.52, a P/E ratio of 12.69 and a beta of 1.64.

Several large investors have recently modified their holdings of the company. State Street Corp boosted its stake in shares of Clear Channel Outdoor by 0.4% in the 2nd quarter. State Street Corp now owns 685,944 shares of the business services provider’s stock valued at $3,326,000 after purchasing an additional 3,004 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Clear Channel Outdoor by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 208,063 shares of the business services provider’s stock worth $956,000 after buying an additional 18,514 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Clear Channel Outdoor by 112.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 40,868 shares of the business services provider’s stock worth $187,000 after buying an additional 21,674 shares in the last quarter. Wells Fargo & Company MN lifted its position in Clear Channel Outdoor by 129.5% during the 4th quarter. Wells Fargo & Company MN now owns 43,873 shares of the business services provider’s stock worth $202,000 after buying an additional 24,758 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Clear Channel Outdoor by 8.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 532,312 shares of the business services provider’s stock worth $2,475,000 after buying an additional 39,499 shares in the last quarter. Institutional investors own 8.95% of the company’s stock.

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Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces. It operates in two segments, Americas Outdoor Advertising (Americas) and International Outdoor Advertising (International). The company offers advertising services through billboards comprising bulletins and posters; street furniture displays, including advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; and other out-of-home advertising displays, such as wallscapes and spectaculars, as well as mall displays and other small displays.

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