Wall Street Zen Upgrades Clear Channel Outdoor (NYSE:CCO) to Hold

Clear Channel Outdoor (NYSE:CCO) was upgraded by analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Clear Channel Outdoor from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Five research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.24.

Clear Channel Outdoor Trading Up 0.4%

NYSE CCO opened at $2.43 on Friday. The firm has a market capitalization of $1.24 billion, a P/E ratio of -11.57 and a beta of 2.01. The firm’s fifty day moving average price is $2.38 and its two-hundred day moving average price is $2.39. Clear Channel Outdoor has a 1 year low of $1.36 and a 1 year high of $2.46.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $438.04 million during the quarter, compared to the consensus estimate of $423.62 million. On average, research analysts anticipate that Clear Channel Outdoor will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of institutional investors have recently made changes to their positions in CCO. Quantbot Technologies LP bought a new position in shares of Clear Channel Outdoor during the second quarter worth approximately $33,000. CTC Alternative Strategies Ltd. bought a new stake in Clear Channel Outdoor in the 1st quarter valued at $32,000. Transmarket Holdings LP acquired a new position in Clear Channel Outdoor in the 1st quarter valued at $36,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Clear Channel Outdoor in the 2nd quarter valued at $39,000. Finally, Rangeley Capital LLC bought a new position in Clear Channel Outdoor during the 1st quarter worth $44,000. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company that provides brands and agencies with advertising space across physical and digital media formats. Its portfolio includes traditional and digital billboards, street furniture, transit displays, airport advertising, and other out-of-home media assets.

The company sells advertising inventory in high-traffic locations, including roadside corridors, urban centers, transportation hubs, and airports. Its digital displays allow advertisers to deliver flexible, time-sensitive campaigns, while its traditional displays support longer-term brand and local advertising initiatives.