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

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have received an average rating of “Reduce” from the seven ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $2.2920.

Several research firms recently weighed in on CCO. TD Cowen reissued a “hold” rating and set a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Wednesday, June 24th.

Insider Transactions at Clear Channel Outdoor

In other Clear Channel Outdoor news, Director Raymond T. White sold 2,500,900 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the transaction, the director owned 91,003 shares in the company, valued at $218,407.20. This represents a 96.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 26,239,967 shares of company stock valued at $62,975,921. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. 140 Summer Partners LP acquired a new position in shares of Clear Channel Outdoor in the fourth quarter valued at approximately $8,806,000. Barclays PLC raised its holdings in Clear Channel Outdoor by 3,017.0% during the 3rd quarter. Barclays PLC now owns 4,109,743 shares of the business services provider’s stock worth $6,493,000 after purchasing an additional 3,977,895 shares during the last quarter. Occam Crest Management LP increased its position in shares of Clear Channel Outdoor by 423.7% during the fourth quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock worth $7,524,000 after buying an additional 2,754,300 shares during the period. Marshall Wace LLP bought a new position in shares of Clear Channel Outdoor in the 4th quarter worth about $5,925,000. Finally, EVR Research LP bought a new position in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $3,950,000. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

Clear Channel Outdoor stock opened at $2.40 on Friday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.36 and a beta of 1.95. The company’s 50 day simple moving average is $2.40 and its 200 day simple moving average is $2.31. Clear Channel Outdoor has a fifty-two week low of $1.00 and a fifty-two week 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) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $373.86 million for the quarter, compared to analysts’ expectations of $348.71 million. As a group, analysts predict that Clear Channel Outdoor will post -0.04 EPS for the current fiscal year.

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.