Clear Channel Outdoor Holdings Inc. (CCO) Upgraded by Zacks Investment Research to “Hold”
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued 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. “
CCO has been the subject of a number of other reports. Loop Capital started coverage on Clear Channel Outdoor Holdings in a research note on Monday, September 12th. They issued a “sell” rating and a $5.50 price target for the company. TheStreet cut Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $5.00.
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Clear Channel Outdoor Holdings (NYSE:CCO) traded down 0.86% during mid-day trading on Tuesday, reaching $5.75. 81,275 shares of the company’s stock were exchanged. Clear Channel Outdoor Holdings has a 52-week low of $2.97 and a 52-week high of $7.74. The stock has a 50-day moving average price of $6.34 and a 200 day moving average price of $6.07. The company has a market cap of $2.07 billion, a PE ratio of 287.50 and a beta of 1.49.
Clear Channel Outdoor Holdings (NYSE:CCO) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.22. The company earned $712.15 million during 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 predict that Clear Channel Outdoor Holdings will post $0.26 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Clear Channel Outdoor Holdings during the second quarter worth about $158,000. O Shaughnessy Asset Management LLC acquired a new stake in Clear Channel Outdoor Holdings during the second quarter worth about $164,000. Rhumbline Advisers boosted its stake in Clear Channel Outdoor Holdings by 2.7% in the second quarter. Rhumbline Advisers now owns 29,543 shares of the company’s stock worth $184,000 after buying an additional 781 shares during the last quarter. M&T Bank Corp acquired a new stake in Clear Channel Outdoor Holdings during the first quarter worth about $150,000. Finally, Panagora Asset Management Inc. boosted its stake in Clear Channel Outdoor Holdings by 45.3% in the second quarter. Panagora Asset Management Inc. now owns 39,970 shares of the company’s stock worth $249,000 after buying an additional 12,463 shares during the last quarter. 9.32% of the stock is owned by institutional investors and hedge funds.
Clear Channel Outdoor Holdings Company Profile
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).
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