Clear Channel Outdoor Holdings Inc. (CCO) Stock Rating Upgraded by Zacks Investment Research
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Clear Channel Outdoor Holdings, based in San Antonio, TX, is a global leader in outdoor advertising displays in countries across continents. In the United States, the company operates advertising displays and has a presence of the top DMA regions. It manages a large portion of Spectacular Displays in Times Square as well as Airport, Taxi and Mall advertising worldwide. Adshel is the company’s International street furniture division. “
Several other equities analysts have also commented on CCO. Loop Capital started coverage on Clear Channel Outdoor Holdings in a research report on Monday, September 12th. They set a “sell” rating and a $5.50 price objective on the stock. TheStreet lowered Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $5.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/clear-channel-outdoor-holdings-inc-cco-stock-rating-upgraded-by-zacks-investment-research.html
Shares of Clear Channel Outdoor Holdings (NYSE:CCO) traded down 0.86% during trading on Tuesday, reaching $5.75. The company’s stock had a trading volume of 81,275 shares. Clear Channel Outdoor Holdings has a 52-week low of $2.97 and a 52-week high of $7.74. The stock’s 50 day moving average price is $6.34 and its 200-day moving average price is $6.07. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 287.50 and a beta of 1.49.
Clear Channel Outdoor Holdings (NYSE:CCO) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.03 by $0.22. The firm had revenue of $712.15 million for the quarter, compared to the consensus estimate of $721.57 million. Clear Channel Outdoor Holdings had a net margin of 0.25% and a negative return on equity of 3.04%. Equities analysts anticipate that Clear Channel Outdoor Holdings will post $0.26 EPS for the current year.
A number of institutional investors have recently bought and sold shares of CCO. JPMorgan Chase & Co. raised its position in Clear Channel Outdoor Holdings by 1.7% in the first quarter. JPMorgan Chase & Co. now owns 5,458,885 shares of the company’s stock valued at $25,656,000 after buying an additional 91,947 shares during the last quarter. Brookfield Asset Management Inc. acquired a new stake in Clear Channel Outdoor Holdings during the first quarter valued at $2,728,000. M&T Bank Corp acquired a new stake in Clear Channel Outdoor Holdings during the first quarter valued at $150,000. State Street Corp boosted its stake in Clear Channel Outdoor Holdings by 2.4% in the first quarter. State Street Corp now owns 668,733 shares of the company’s stock valued at $3,145,000 after buying an additional 15,521 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Clear Channel Outdoor Holdings during the second quarter valued at $158,000. Institutional investors and hedge funds own 9.32% of the company’s stock.
About Clear Channel Outdoor Holdings
Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company owns and operates billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. It operates in two segments: Americas outdoor advertising (Americas) and International outdoor advertising (International).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Clear Channel Outdoor Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.