Brokerages Set Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Price Target at $2.32

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $2.3167.

CCO has been the subject of several research analyst reports. TD Cowen lifted their target price on Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a research report on Monday, October 20th. Wall Street Zen downgraded shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Wells Fargo & Company lifted their price target on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 12th. Citigroup boosted their price target on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Zacks Research lowered shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th.

Institutional Trading of Clear Channel Outdoor

Several hedge funds have recently modified their holdings of the company. Anson Funds Management LP lifted its stake in shares of Clear Channel Outdoor by 0.5% during the third quarter. Anson Funds Management LP now owns 18,238,327 shares of the business services provider’s stock worth $28,817,000 after buying an additional 84,203 shares during the period. Gamco Investors INC. ET AL raised its position in Clear Channel Outdoor by 5.1% during the 3rd quarter. Gamco Investors INC. ET AL now owns 7,349,875 shares of the business services provider’s stock worth $11,613,000 after buying an additional 357,700 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Clear Channel Outdoor by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider’s stock valued at $7,927,000 after acquiring an additional 59,366 shares during the period. Millennium Management LLC boosted its holdings in shares of Clear Channel Outdoor by 22.9% in the 1st quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock valued at $5,432,000 after acquiring an additional 912,632 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Clear Channel Outdoor by 12.7% in the second quarter. Franklin Resources Inc. now owns 4,437,527 shares of the business services provider’s stock worth $5,192,000 after acquiring an additional 498,318 shares during the period. 85.52% of the stock is owned by hedge funds and other institutional investors.

Clear Channel Outdoor Price Performance

Shares of CCO opened at $2.07 on Friday. The firm has a market cap of $1.03 billion, a P/E ratio of -206.50 and a beta of 2.26. Clear Channel Outdoor has a 1 year low of $0.81 and a 1 year high of $2.26. The company has a 50 day simple moving average of $2.01 and a two-hundred day simple moving average of $1.59.

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

About Clear Channel Outdoor

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.