Clear Channel Outdoor Holdings Inc. (CCO) Sees Large Volume Increase
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) saw unusually-high trading volume on Thursday . Approximately 127,446 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 114,733 shares.The stock last traded at $6.74 and had previously closed at $6.60.
CCO has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Clear Channel Outdoor Holdings from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. TheStreet raised shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. Evercore ISI cut shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research note on Friday, May 13th. Finally, Wedbush upped their price target on shares of Clear Channel Outdoor Holdings from $4.00 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Clear Channel Outdoor Holdings presently has an average rating of “Hold” and an average target price of $4.88.
The company has a market cap of $2.45 billion and a price-to-earnings ratio of 340.50. The stock’s 50-day moving average is $6.63 and its 200-day moving average is $5.42.
Clear Channel Outdoor Holdings (NYSE:CCO) last released its earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.22. The firm earned $712.15 million during the quarter, compared to analyst estimates of $721.57 million. On average, equities analysts forecast that Clear Channel Outdoor Holdings Inc. will post $0.31 earnings per share for the current fiscal year.
Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company owns and operates billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. It operates in two segments: Americas outdoor advertising (Americas) and International outdoor advertising (International).
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