Clear Channel Outdoor (NYSE:CCO) Reaches New 1-Year High – Here’s Why

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) reached a new 52-week high on Friday . The stock traded as high as $2.10 and last traded at $2.0840, with a volume of 36520 shares traded. The stock had previously closed at $2.06.

Analyst Ratings Changes

Several equities analysts recently commented 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, December 15th. UBS Group set a $2.50 price target on Clear Channel Outdoor in a research note on Thursday, September 25th. TD Cowen lifted their price objective on Clear Channel Outdoor from $2.50 to $2.80 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Cowen restated a “buy” rating on shares of Clear Channel Outdoor in a research report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.32.

Clear Channel Outdoor Trading Down 0.7%

The firm has a 50-day moving average of $1.87 and a two-hundred day moving average of $1.46. The firm has a market capitalization of $1.02 billion, a P/E ratio of -204.50 and a beta of 2.27.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $405.64 million during the quarter, compared to the consensus estimate of $402.03 million.

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its holdings in Clear Channel Outdoor by 97.9% during the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock worth $26,000 after buying an additional 8,248 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Clear Channel Outdoor by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock worth $234,000 after acquiring an additional 8,976 shares in the last quarter. Advisors Capital Management LLC raised its holdings in shares of Clear Channel Outdoor by 91.7% in the 3rd quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock worth $36,000 after acquiring an additional 11,000 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Clear Channel Outdoor by 2.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider’s stock valued at $657,000 after acquiring an additional 14,855 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in Clear Channel Outdoor by 5.1% in the 1st quarter. Inspire Investing LLC now owns 306,009 shares of the business services provider’s stock valued at $340,000 after acquiring an additional 14,888 shares in the last quarter. Institutional investors own 85.52% of the company’s stock.

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.