Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives Consensus Recommendation of “Reduce” from Analysts

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has earned an average rating of “Reduce” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $2.2920.

Several research analysts recently commented on CCO shares. TD Cowen reissued a “hold” rating and issued a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th.

Insiders Place Their Bets

In related news, Director Raymond T. White sold 23,435,796 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $2.40, for a total transaction of $56,245,910.40. Following the completion of the sale, the director owned 187,371 shares of the company’s stock, valued at approximately $449,690.40. This represents a 99.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 26,239,967 shares of company stock worth $62,975,921 in the last quarter. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of large investors have recently made changes to their positions in CCO. Ieq Capital LLC lifted its holdings in 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 buying an additional 4,493 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Clear Channel Outdoor by 4.4% during the 1st 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. SG Americas Securities LLC raised its position in shares of Clear Channel Outdoor by 61.8% during the 4th quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock worth $52,000 after acquiring an additional 9,019 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Clear Channel Outdoor during the fourth quarter worth approximately $27,000. Finally, EntryPoint Capital LLC acquired a new position in Clear Channel Outdoor in the fourth quarter valued at approximately $28,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Clear Channel Outdoor Trading Up 0.2%

NYSE:CCO traded up $0.01 during trading hours on Friday, reaching $2.42. 5,814,651 shares of the company were exchanged, compared to its average volume of 9,071,946. The firm has a market cap of $1.23 billion, a PE ratio of -13.42 and a beta of 1.95. Clear Channel Outdoor has a twelve month low of $1.00 and a twelve month high of $2.43. The stock’s 50-day moving average is $2.40 and its 200-day moving average is $2.33.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $373.86 million during the quarter, compared to the consensus estimate of $348.71 million. As a group, research analysts anticipate that Clear Channel Outdoor will post -0.04 EPS for the current year.

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.