TD Cowen Reiterates “Hold” Rating for Clear Channel Outdoor (NYSE:CCO)

Clear Channel Outdoor (NYSE:CCO)‘s stock had its “hold” rating reissued by equities researchers at TD Cowen in a report issued on Monday, MarketBeat.com reports. They currently have a $2.43 price target on the business services provider’s stock, down from their prior price target of $2.50. TD Cowen’s price objective indicates a potential upside of 2.32% from the company’s previous close.

A number of other research analysts have also issued reports on CCO. Wells Fargo & Company boosted their target price on Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Friday, March 27th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Trading Down 0.2%

NYSE:CCO opened at $2.38 on Monday. The firm has a market cap of $1.18 billion, a P/E ratio of 47.51 and a beta of 2.26. The stock’s 50 day simple moving average is $2.34 and its 200-day simple moving average is $2.04. Clear Channel Outdoor has a 12-month low of $0.82 and a 12-month high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Thursday, February 26th. The business services provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $461.52 million during the quarter, compared to analyst estimates of $449.10 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanders Morris Harris LLC acquired a new position in Clear Channel Outdoor during the third quarter worth $25,000. CWM LLC grew its holdings in Clear Channel Outdoor by 97.9% during the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock worth $26,000 after acquiring an additional 8,248 shares during the period. Captrust Financial Advisors acquired a new position in Clear Channel Outdoor during the fourth quarter worth $27,000. EntryPoint Capital LLC acquired a new position in Clear Channel Outdoor during the fourth quarter worth $28,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Clear Channel Outdoor during the fourth quarter worth $31,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.