Clear Channel Outdoor (NYSE:CCO) Stock Price Up 3.8%

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares rose 3.8% during mid-day trading on Friday . The stock traded as high as $1.52 and last traded at $1.50. Approximately 893,667 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 2,384,121 shares. The stock had previously closed at $1.44.

Wall Street Analyst Weigh In

CCO has been the subject of several analyst reports. Barrington Research restated an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a report on Tuesday, February 27th. StockNews.com upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Finally, Morgan Stanley raised their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.16.

Clear Channel Outdoor Price Performance

The business has a 50-day simple moving average of $1.67 and a two-hundred day simple moving average of $1.55. The stock has a market cap of $720.74 million, a price-to-earnings ratio of -2.29 and a beta of 2.88.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings results on Monday, February 26th. The business services provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $632.11 million for the quarter, compared to analyst estimates of $611.62 million. During the same period last year, the firm earned $0.24 EPS. As a group, equities analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of institutional investors have recently bought and sold shares of CCO. Optas LLC acquired a new position in Clear Channel Outdoor during the third quarter worth approximately $27,000. Parallax Volatility Advisers L.P. acquired a new position in shares of Clear Channel Outdoor in the third quarter valued at approximately $30,000. Raymond James & Associates grew its position in shares of Clear Channel Outdoor by 76.9% in the fourth quarter. Raymond James & Associates now owns 29,900 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 13,000 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Clear Channel Outdoor in the first quarter valued at approximately $35,000. Finally, Alpine Global Management LLC acquired a new position in shares of Clear Channel Outdoor in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

About Clear Channel Outdoor

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, and Other segments. The company provides 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, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.