Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives $2.31 Average Target Price from Analysts

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has been assigned an average recommendation of “Reduce” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $2.3060.

Several research firms have weighed in on CCO. TD Cowen set a $2.50 target price on Clear Channel Outdoor in a report on Tuesday, February 10th. Wells Fargo & Company increased their price target on Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Monday, December 29th.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO opened at $2.36 on Friday. The company has a 50 day moving average price of $2.30 and a two-hundred day moving average price of $1.99. The company has a market capitalization of $1.17 billion, a PE ratio of 47.11 and a beta of 2.30. Clear Channel Outdoor has a 52 week low of $0.81 and a 52 week high of $2.43.

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 for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $461.52 million for the quarter, compared to the consensus estimate of $449.10 million.

Institutional Trading of Clear Channel Outdoor

Several hedge funds have recently bought and sold shares of CCO. Anson Funds Management LP lifted its stake in Clear Channel Outdoor by 8.8% in the fourth quarter. Anson Funds Management LP now owns 19,842,452 shares of the business services provider’s stock valued at $43,852,000 after buying an additional 1,604,125 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Clear Channel Outdoor by 10.6% during 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 acquiring an additional 776,500 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Clear Channel Outdoor by 3.9% during the fourth quarter. JPMorgan Chase & Co. now owns 6,998,595 shares of the business services provider’s stock worth $15,467,000 after acquiring an additional 260,716 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Clear Channel Outdoor by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,389,630 shares of the business services provider’s stock valued at $11,911,000 after acquiring an additional 582,007 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in 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 worth $5,432,000 after purchasing an additional 912,632 shares during the period. 85.52% of the stock is currently owned by institutional investors and hedge funds.

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.