Clear Channel Outdoor (NYSE:CCO) Stock Crosses Above 200-Day Moving Average – What’s Next?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.25 and traded as high as $2.41. Clear Channel Outdoor shares last traded at $2.4050, with a volume of 4,123,167 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CCO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Friday, March 27th. TD Cowen reaffirmed a “hold” rating and issued a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Finally, Wells Fargo & Company upped their target price on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a report on Friday, February 27th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Stock Down 0.2%

The firm’s fifty day moving average is $2.39 and its 200-day moving average is $2.25. The stock has a market capitalization of $1.22 billion, a PE ratio of -13.36 and a beta of 1.96.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $373.86 million for the quarter, compared to the consensus estimate of $348.71 million. On average, analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Clear Channel Outdoor by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock worth $234,000 after buying an additional 8,976 shares during the period. Millennium Management LLC grew its position in Clear Channel Outdoor by 22.9% during the first quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock worth $5,432,000 after buying an additional 912,632 shares during the period. JPMorgan Chase & Co. grew its position in Clear Channel Outdoor by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider’s stock worth $7,927,000 after buying an additional 59,366 shares during the period. Russell Investments Group Ltd. grew its position in Clear Channel Outdoor by 2.7% during the second quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider’s stock worth $657,000 after buying an additional 14,855 shares during the period. Finally, Jump Financial LLC acquired a new position in Clear Channel Outdoor during the second quarter worth about $587,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

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.