Clear Channel Outdoor (NYSE:CCO) Price Target Raised to $2.43

Clear Channel Outdoor (NYSE:CCO) had its price target hoisted by Wells Fargo & Company from $2.00 to $2.43 in a report issued on Friday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

CCO has been the subject of several other research reports. Zacks Research downgraded shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. TD Cowen set a $2.50 price target on shares of Clear Channel Outdoor in a research note on Tuesday, February 10th. Morgan Stanley set a $2.00 price objective on shares of Clear Channel Outdoor in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Clear Channel Outdoor currently has a consensus rating of “Reduce” and an average target price of $2.31.

Clear Channel Outdoor Price Performance

Shares of CCO stock opened at $2.40 on Friday. Clear Channel Outdoor has a 12-month low of $0.81 and a 12-month high of $2.43. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 47.91 and a beta of 2.30. The business has a 50 day simple moving average of $2.21 and a 200 day simple moving average of $1.84.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings results on Thursday, February 26th. The business services provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $461.52 million for the quarter, compared to analyst estimates of $449.10 million.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCO. Ieq Capital LLC boosted its stake in shares of Clear Channel Outdoor by 8.3% during the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock worth $130,000 after acquiring an additional 4,493 shares in the last quarter. CWM LLC raised its position in shares of 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 purchasing an additional 8,248 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $234,000 after purchasing an additional 8,976 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Clear Channel Outdoor by 61.8% in the 4th quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 9,019 shares during the period. Finally, Advisors Capital Management LLC increased its stake in 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 purchasing an additional 11,000 shares in the last quarter. Institutional investors own 85.52% of the company’s stock.

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.