Clear Channel Outdoor Holdings Inc. (CCO) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “Clear Channel Outdoor Holdings, based in San Antonio, TX, is a global leader in outdoor advertising displays in countries across continents. In the United States, the company operates advertising displays and has a presence of the top DMA regions. It manages a large portion of Spectacular Displays in Times Square as well as Airport, Taxi and Mall advertising worldwide. Adshel is the company’s International street furniture division. “
Other equities analysts have also issued research reports about the company. TheStreet lowered Clear Channel Outdoor Holdings from a hold rating to a sell rating in a research note on Wednesday, September 14th. Loop Capital began coverage on Clear Channel Outdoor Holdings in a research note on Monday, September 12th. They set a sell rating and a $5.50 target price on the stock. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $5.00.
Clear Channel Outdoor Holdings (NYSE:CCO) opened at 5.70 on Tuesday. Clear Channel Outdoor Holdings has a 1-year low of $2.97 and a 1-year high of $7.74. The firm has a 50-day moving average price of $6.27 and a 200-day moving average price of $6.07. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 285.00 and a beta of 1.49.
Clear Channel Outdoor Holdings (NYSE:CCO) last announced its earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.22. The firm had revenue of $712.15 million for the quarter, compared to the consensus estimate of $721.57 million. Clear Channel Outdoor Holdings had a negative return on equity of 3.04% and a net margin of 0.25%. On average, analysts expect that Clear Channel Outdoor Holdings will post $0.26 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP raised its position in Clear Channel Outdoor Holdings by 40.9% in the second quarter. GSA Capital Partners LLP now owns 67,348 shares of the company’s stock worth $419,000 after buying an additional 19,564 shares during the period. State Street Corp raised its position in Clear Channel Outdoor Holdings by 2.4% in the first quarter. State Street Corp now owns 668,733 shares of the company’s stock worth $3,145,000 after buying an additional 15,521 shares during the period. M&T Bank Corp bought a new position in Clear Channel Outdoor Holdings during the first quarter worth approximately $150,000. JPMorgan Chase & Co. raised its position in Clear Channel Outdoor Holdings by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 5,618,649 shares of the company’s stock worth $34,948,000 after buying an additional 159,764 shares during the period. Finally, Citadel Advisors LLC raised its position in Clear Channel Outdoor Holdings by 18.7% in the second quarter. Citadel Advisors LLC now owns 217,509 shares of the company’s stock worth $1,353,000 after buying an additional 34,231 shares during the period. Hedge funds and other institutional investors own 9.32% of the company’s stock.
About Clear Channel Outdoor Holdings
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Clear Channel Outdoor Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.