Clear Channel Outdoor (NYSE:CCO – Get Rating) had its price target cut by Barrington Research from $3.25 to $2.50 in a report issued on Wednesday, The Fly reports. Barrington Research also issued estimates for Clear Channel Outdoor’s Q4 2023 earnings at $0.06 EPS.
Several other research firms also recently commented on CCO. Cowen dropped their price objective on shares of Clear Channel Outdoor to $3.50 in a report on Monday, August 15th. StockNews.com initiated coverage on Clear Channel Outdoor in a report on Wednesday, October 12th. They set a hold rating for the company. Finally, Morgan Stanley reduced their price objective on Clear Channel Outdoor from $2.00 to $1.50 and set an equal weight rating on the stock in a research note on Wednesday, November 9th.
Clear Channel Outdoor Price Performance
Clear Channel Outdoor stock opened at $1.06 on Wednesday. The firm’s 50 day moving average price is $1.47 and its 200-day moving average price is $1.50. Clear Channel Outdoor has a 1 year low of $0.91 and a 1 year high of $4.10. The stock has a market cap of $504.61 million, a P/E ratio of -3.79 and a beta of 2.43.
Insiders Place Their Bets
Hedge Funds Weigh In On Clear Channel Outdoor
A number of large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new stake in Clear Channel Outdoor in the first quarter worth about $35,000. Wealth Advisors of Iowa LLC purchased a new stake in shares of Clear Channel Outdoor in the first quarter worth approximately $42,000. Fifth Third Bancorp bought a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $27,000. Covestor Ltd boosted its holdings in Clear Channel Outdoor by 12,212.4% during the 1st quarter. Covestor Ltd now owns 20,931 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 20,761 shares during the period. Finally, Parallax Volatility Advisers L.P. bought a new position in Clear Channel Outdoor in the 3rd quarter valued at $30,000. 96.70% of the stock is owned by hedge funds and other institutional investors.
About Clear Channel Outdoor
Clear Channel Outdoor Holdings, Inc owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures.
- Get a free copy of the StockNews.com research report on Clear Channel Outdoor (CCO)
- MarketBeat: Week in Review 11/14 – 11/18
- Target’s Double Bottom Might Have Just Been Confirmed
- How High Can the Fed Go? How to Trade it
- Verra Mobility Stock Has Returned Back to the Station
- Does ASML’s November Rally Have Staying Power?
Receive News & Ratings for Clear Channel Outdoor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor and related companies with MarketBeat.com's FREE daily email newsletter.