Clear Channel Outdoor (NYSE:CCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Clear Channel Outdoor (NYSE:CCO) to a hold rating in a report released on Saturday,Wall Street Zen reports.

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

Clear Channel Outdoor Price Performance

CCO opened at $2.43 on Friday. Clear Channel Outdoor has a 12-month low of $1.36 and a 12-month high of $2.46. The stock has a market capitalization of $1.24 billion, a PE ratio of -11.57 and a beta of 2.01. The firm’s fifty day moving average price is $2.38 and its 200 day moving average price is $2.39.

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

Hedge Funds Weigh In On Clear Channel Outdoor

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

About Clear Channel Outdoor

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.