Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives $2.32 Average Target Price from Brokerages

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has been given an average rating of “Reduce” by the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $2.3167.

CCO has been the topic of a number of research reports. Wells Fargo & Company lifted their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 12th. Zacks Research cut shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Morgan Stanley set a $2.00 price target on shares of Clear Channel Outdoor in a research note on Monday, November 10th. Citigroup lifted their price objective on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen downgraded shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Institutional Investors Weigh In On Clear Channel Outdoor

Several institutional investors have recently modified their holdings of CCO. GSA Capital Partners LLP boosted its holdings in shares of Clear Channel Outdoor by 105.5% in the 4th quarter. GSA Capital Partners LLP now owns 614,710 shares of the business services provider’s stock worth $1,359,000 after purchasing an additional 315,560 shares during the period. Gamco Investors INC. ET AL lifted its position in Clear Channel Outdoor by 10.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 8,126,375 shares of the business services provider’s stock worth $17,959,000 after buying an additional 776,500 shares during the last quarter. Gabelli Funds LLC boosted its stake in Clear Channel Outdoor by 5.2% during the fourth quarter. Gabelli Funds LLC now owns 3,419,000 shares of the business services provider’s stock worth $7,556,000 after buying an additional 169,000 shares during the period. Abacus Wealth Partners LLC bought a new position in Clear Channel Outdoor during the fourth quarter valued at $111,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at $31,000. 85.52% of the stock is owned by institutional investors.

Clear Channel Outdoor Stock Performance

CCO opened at $2.18 on Thursday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -218.00 and a beta of 2.31. The company has a fifty day moving average of $2.10 and a 200 day moving average of $1.70. Clear Channel Outdoor has a fifty-two week low of $0.81 and a fifty-two week high of $2.30.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $405.64 million for the quarter, compared to the consensus estimate 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.