Clear Channel Outdoor Holdings Earns B- Credit Rating (CCO)
Clear Channel Outdoor Holdings (NYSE:CCO) has earned a “B-” credit rating from analysts at Morningstar. The agency’s “B-” rating indicates that the company is a high default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.
A number of other firms have also recently commented on CCO. Analysts at Evercore Partners upgraded shares of Clear Channel Outdoor Holdings from an “underweight” rating to an “equal weight” rating in a research note on Monday, August 4th. They now have a $7.00 price target on the stock. Analysts at Zacks upgraded shares of Clear Channel Outdoor Holdings from an “underperform” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $7.90 price target on the stock.
Clear Channel Outdoor Holdings (NYSE:CCO) opened at 7.03 on Friday. Clear Channel Outdoor Holdings has a 52-week low of $6.76 and a 52-week high of $10.69. The stock has a 50-day moving average of $7.34 and a 200-day moving average of $8.25. The company’s market cap is $2.520 billion.
Clear Channel Outdoor Holdings (NYSE:CCO) last announced its earnings results on Wednesday, July 23rd. The company reported $0.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.03 by $0.11. On average, analysts predict that Clear Channel Outdoor Holdings will post $-0.07 earnings per share for the current fiscal year.
Clear Channel Outdoor Holdings, Inc provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes, spectaculars, neons and mall displays, which it owns or operates in global markets.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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