Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives $2.29 Average Price Target from Analysts

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has earned an average recommendation of “Reduce” from the seven ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $2.2920.

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

Clear Channel Outdoor Stock Up 0.2%

Shares of Clear Channel Outdoor stock opened at $2.40 on Friday. The stock has a market capitalization of $1.22 billion, a P/E ratio of -13.31 and a beta of 1.99. The company has a 50-day simple moving average of $2.38 and a 200 day simple moving average of $2.20. Clear Channel Outdoor has a 12-month low of $1.00 and a 12-month high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $373.86 million for the quarter, compared to analyst estimates of $348.71 million. On average, equities analysts anticipate that Clear Channel Outdoor will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Clear Channel Outdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ieq Capital LLC increased its position in Clear Channel Outdoor by 8.3% in the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 4,493 shares in the last quarter. CWM LLC increased its position in Clear Channel Outdoor by 97.9% in the 3rd 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. increased its position in Clear Channel Outdoor by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 8,976 shares in the last quarter. SG Americas Securities LLC increased its position in Clear Channel Outdoor by 61.8% in the 4th quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 9,019 shares in the last quarter. Finally, Advisors Capital Management LLC increased its position in Clear Channel Outdoor by 91.7% in the 3rd quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 11,000 shares in the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.

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.