Clear Channel Outdoor (NYSE:CCO) Trading Down 5.4%

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares fell 5.4% during trading on Friday . The company traded as low as $1.33 and last traded at $1.33. 91,518 shares were traded during trading, a decline of 96% from the average session volume of 2,598,820 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

A number of brokerages have commented on CCO. Barrington Research reaffirmed an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a research report on Monday, August 14th. Citigroup cut their price objective on shares of Clear Channel Outdoor from $1.50 to $1.40 and set a “neutral” rating on the stock in a research report on Tuesday, August 29th. Finally, StockNews.com assumed coverage on shares of Clear Channel Outdoor in a research report on Thursday, August 17th. They set a “hold” rating on the stock.

Clear Channel Outdoor Trading Up 2.1 %

The company has a market cap of $690.56 million, a P/E ratio of -71.46 and a beta of 2.56. The stock’s 50-day moving average price is $1.53 and its 200-day moving average price is $1.36.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data on Monday, August 7th. The business services provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The firm had revenue of $637.20 million for the quarter, compared to the consensus estimate of $636.37 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. Clear Channel Outdoor’s quarterly revenue was up .4% on a year-over-year basis. On average, research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clear Channel Outdoor

Several large investors have recently added to or reduced their stakes in CCO. Bank of New York Mellon Corp lifted its position in Clear Channel Outdoor by 10.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,809,633 shares of the business services provider’s stock valued at $6,261,000 after acquiring an additional 176,774 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Clear Channel Outdoor by 90.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,500 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 22,500 shares in the last quarter. MetLife Investment Management LLC lifted its position in Clear Channel Outdoor by 39.0% in the 1st quarter. MetLife Investment Management LLC now owns 175,746 shares of the business services provider’s stock valued at $608,000 after acquiring an additional 49,285 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in Clear Channel Outdoor in the 1st quarter valued at about $808,000. Finally, APG Asset Management N.V. purchased a new stake in Clear Channel Outdoor in the 1st quarter valued at about $1,945,000.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, Europe-South, and Other segments. The company offers advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, newsracks, and other public structures; transit displays, which are advertising surfaces within the common areas of rail stations and on various types of vehicles; and airport advertising displays.