Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stock Has Consensus Price Target of $2.29 According to Brokerages

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been given an average recommendation of “Reduce” by the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $2.24.

Separately, Weiss Ratings upgraded Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCO. Dimensional Fund Advisors LP boosted its stake in shares of Clear Channel Outdoor by 109.4% in the first quarter. Dimensional Fund Advisors LP now owns 899,187 shares of the business services provider’s stock worth $2,131,000 after acquiring an additional 469,876 shares during the period. Readystate Asset Management LP bought a new stake in Clear Channel Outdoor during the 2nd quarter valued at approximately $4,206,000. Gamco Investors INC. ET AL lifted its holdings in Clear Channel Outdoor by 11.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider’s stock worth $21,533,000 after purchasing an additional 959,400 shares in the last quarter. BlackRock Inc. purchased a new position in Clear Channel Outdoor in the 2nd quarter worth approximately $73,669,000. Finally, Glazer Capital LLC bought a new position in Clear Channel Outdoor in the 2nd quarter worth approximately $29,763,000. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

Shares of CCO stock opened at $2.35 on Friday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -11.21 and a beta of 1.95. Clear Channel Outdoor has a 1 year low of $1.27 and a 1 year high of $2.44. The firm has a fifty day moving average price of $2.39 and a 200-day moving average price of $2.39.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Wednesday, August 5th. The business services provider reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $438.04 million during the quarter, compared to the consensus estimate of $423.62 million. Equities research analysts expect that Clear Channel Outdoor will post -0.05 EPS for the current year.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc is an out-of-home advertising company that provides businesses and organizations with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, street furniture, transit advertising, airport displays, wallscapes, and other large-format advertising installations.

The company sells advertising campaigns to national, regional, and local advertisers and supports them with audience insights, campaign planning, creative services, and digital-out-of-home capabilities.