Clear Channel Outdoor (NYSE:CCO) Trading Up 4.3%

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Rating)’s stock price was up 4.3% during mid-day trading on Friday . The stock traded as high as $1.10 and last traded at $1.10. Approximately 1,312,031 shares were traded during trading, a decline of 50% from the average daily volume of 2,613,072 shares. The stock had previously closed at $1.05.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CCO shares. Wells Fargo & Company dropped their price objective on Clear Channel Outdoor from $1.50 to $1.25 in a research note on Tuesday, May 9th. StockNews.com started coverage on Clear Channel Outdoor in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Citigroup raised their price target on Clear Channel Outdoor from $1.10 to $1.90 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Finally, Barrington Research reiterated an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a report on Monday, March 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of “Hold” and an average target price of $2.13.

Clear Channel Outdoor Stock Up 2.9 %

The stock has a market cap of $515.63 million, a PE ratio of -13.50 and a beta of 2.49. The company has a fifty day moving average price of $1.19 and a 200 day moving average price of $1.30.

Clear Channel Outdoor (NYSE:CCO – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.18. The business had revenue of $709.16 million for the quarter, compared to analysts’ expectations of $706.58 million. As a group, research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in Clear Channel Outdoor during the 1st quarter valued at about $165,000. Candriam S.C.A. increased its holdings in Clear Channel Outdoor by 4.2% during the 1st quarter. Candriam S.C.A. now owns 380,761 shares of the business services provider’s stock valued at $421,000 after purchasing an additional 15,219 shares during the period. Great West Life Assurance Co. Can increased its holdings in Clear Channel Outdoor by 11.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 155,787 shares of the business services provider’s stock valued at $185,000 after purchasing an additional 15,651 shares during the period. BNP Paribas Arbitrage SNC increased its holdings in Clear Channel Outdoor by 74.4% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 255,569 shares of the business services provider’s stock valued at $307,000 after purchasing an additional 109,064 shares during the period. Finally, HRT Financial LP bought a new stake in Clear Channel Outdoor during the 1st quarter valued at approximately $281,000.

About Clear Channel Outdoor

(Get Rating)

Clear Channel Outdoor Holdings, Inc engages in the provision of outdoor advertising solutions. It operates through the Americas and Other segments. The Americas segment consists of operations U.S. operations excluding airports. Europe-North, which consists of operations in the U.K., the Nordics and several other countries throughout northern and central Europe, and Europe-South, which covers the operations in France, Switzerland, Spain and Italy.