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

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has earned a consensus recommendation of “Reduce” from the seven brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $2.2920.

CCO has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a research report on Friday, February 27th. TD Cowen reissued a “hold” rating and set a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Friday, March 27th.

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Anson Funds Management LP boosted its position in shares of Clear Channel Outdoor by 8.8% during the 4th quarter. Anson Funds Management LP now owns 19,842,452 shares of the business services provider’s stock worth $43,852,000 after purchasing an additional 1,604,125 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Clear Channel Outdoor by 11.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider’s stock valued at $21,533,000 after purchasing an additional 959,400 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Clear Channel Outdoor by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,998,595 shares of the business services provider’s stock valued at $15,467,000 after purchasing an additional 260,716 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Clear Channel Outdoor by 12.1% in the fourth 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 purchasing an additional 582,007 shares during the period. Finally, Millennium Management LLC boosted its holdings in Clear Channel Outdoor by 22.9% during the first quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock worth $5,432,000 after buying an additional 912,632 shares in the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

Shares of Clear Channel Outdoor stock opened at $2.40 on Wednesday. The company has a market cap of $1.22 billion, a P/E ratio of -13.31 and a beta of 1.96. Clear Channel Outdoor has a one year low of $1.00 and a one year high of $2.43. The firm has a fifty day moving average of $2.39 and a two-hundred day moving average of $2.26.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $373.86 million for the quarter, compared to analyst estimates of $348.71 million. As a group, equities analysts predict that Clear Channel Outdoor will post -0.04 earnings per share for the current year.

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.