Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives $2.32 Consensus PT from Analysts

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $2.3167.

Several equities research analysts recently weighed in on CCO shares. Zacks Research downgraded shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Wall Street Zen lowered Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday. TD Cowen boosted their target price on Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Citigroup increased their price target on Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a research report on Wednesday, October 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Clear Channel Outdoor by 3,017.0% in the 3rd quarter. Barclays PLC now owns 4,109,743 shares of the business services provider’s stock valued at $6,493,000 after purchasing an additional 3,977,895 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Clear Channel Outdoor during the second quarter worth $3,510,000. EVR Research LP purchased a new position in Clear Channel Outdoor in the third quarter valued at $3,950,000. Dark Forest Capital Management LP acquired a new stake in Clear Channel Outdoor in the third quarter valued at $3,613,000. Finally, Susquehanna Advisors Group Inc. purchased a new stake in Clear Channel Outdoor during the 3rd quarter worth about $3,020,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Trading Down 0.7%

CCO stock opened at $2.05 on Wednesday. The business’s fifty day moving average price is $1.87 and its 200 day moving average price is $1.46. Clear Channel Outdoor has a 12-month low of $0.81 and a 12-month high of $2.11. The company has a market capitalization of $1.02 billion, a PE ratio of -204.50 and a beta of 2.27.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Thursday, November 6th. The business services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $405.64 million during the quarter, compared to analyst estimates of $402.03 million.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.