Clear Channel Outdoor (NYSE:CCO) Stock Price Expected to Rise, TD Cowen Analyst Says

Clear Channel Outdoor (NYSE:CCO) had its price target hoisted by investment analysts at TD Cowen from $2.50 to $2.80 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. TD Cowen’s price objective indicates a potential upside of 50.94% from the stock’s current price.

Other research analysts have also issued reports about the company. Zacks Research raised Clear Channel Outdoor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Morgan Stanley set a $1.75 price target on Clear Channel Outdoor in a report on Wednesday, September 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Clear Channel Outdoor in a report on Wednesday, October 8th. Citigroup increased their price target on Clear Channel Outdoor from $1.25 to $1.35 and gave the company a “neutral” rating in a report on Thursday, September 11th. Finally, Cowen reiterated a “buy” rating on shares of Clear Channel Outdoor in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.18.

Clear Channel Outdoor Trading Down 1.3%

Shares of CCO opened at $1.86 on Monday. The firm has a market capitalization of $921.95 million, a P/E ratio of 46.39 and a beta of 2.64. The stock’s fifty day simple moving average is $1.38 and its 200 day simple moving average is $1.20. Clear Channel Outdoor has a twelve month low of $0.81 and a twelve month high of $1.95.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $402.81 million during the quarter, compared to analysts’ expectations of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insider Activity

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 1,000,000 shares of the stock in a transaction dated Thursday, July 31st. The stock was bought at an average cost of $1.07 per share, for a total transaction of $1,070,000.00. Following the completion of the purchase, the insider directly owned 65,612,859 shares of the company’s stock, valued at approximately $70,205,759.13. The trade was a 1.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ares Management Llc sold 13,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total value of $14,690,000.00. Following the sale, the insider owned 41,197,491 shares of the company’s stock, valued at $46,553,164.83. This represents a 23.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 1,478,507 shares of company stock valued at $1,591,573 over the last 90 days. Insiders own 7.20% of the company’s stock.

Institutional Trading of Clear Channel Outdoor

Several large investors have recently modified their holdings of the business. CWM LLC grew its stake 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 valued at $26,000 after acquiring an additional 8,248 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $234,000 after purchasing an additional 8,976 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Clear Channel Outdoor by 2.7% during the second quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider’s stock worth $657,000 after purchasing an additional 14,855 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Clear Channel Outdoor by 5.1% during the first quarter. Inspire Investing LLC now owns 306,009 shares of the business services provider’s stock worth $340,000 after purchasing an additional 14,888 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in shares of Clear Channel Outdoor during the third quarter worth about $25,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.