Clear Channel Outdoor Holdings, Inc. (CCO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $7.25.

A number of equities research analysts recently weighed in on CCO shares. ValuEngine upgraded shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Zacks Investment Research upgraded shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Loop Capital cut their price objective on shares of Clear Channel Outdoor from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday, November 9th. Scotiabank restated a “sell” rating and set a $12.00 price objective on shares of Clear Channel Outdoor in a research note on Monday, December 4th. Finally, Cleveland Research cut shares of Clear Channel Outdoor from a “buy” rating to a “neutral” rating in a research note on Friday.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Clear Channel Outdoor by 3.7% in the fourth quarter. BlackRock Inc. now owns 2,436,248 shares of the business services provider’s stock worth $11,208,000 after acquiring an additional 87,179 shares in the last quarter. Bank of New York Mellon Corp raised its position in Clear Channel Outdoor by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 208,063 shares of the business services provider’s stock worth $956,000 after acquiring an additional 18,514 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Clear Channel Outdoor by 112.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 40,868 shares of the business services provider’s stock worth $187,000 after acquiring an additional 21,674 shares in the last quarter. Wells Fargo & Company MN raised its position in Clear Channel Outdoor by 129.5% in the fourth quarter. Wells Fargo & Company MN now owns 43,873 shares of the business services provider’s stock worth $202,000 after acquiring an additional 24,758 shares in the last quarter. Finally, AEGON USA Investment Management LLC raised its position in Clear Channel Outdoor by 10.3% in the fourth quarter. AEGON USA Investment Management LLC now owns 517,047 shares of the business services provider’s stock worth $2,378,000 after acquiring an additional 48,228 shares in the last quarter. Hedge funds and other institutional investors own 9.45% of the company’s stock.

Shares of Clear Channel Outdoor (NYSE CCO) opened at $4.80 on Friday. Clear Channel Outdoor has a one year low of $3.35 and a one year high of $6.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of -4.10. The firm has a market cap of $1,674.33, a PE ratio of 230.00 and a beta of 1.69.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). Clear Channel Outdoor had a net margin of 0.24% and a negative return on equity of 0.52%. The company had revenue of $645.09 million for the quarter, compared to the consensus estimate of $640.94 million. research analysts predict that Clear Channel Outdoor will post -0.23 EPS for the current year.

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About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).

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