Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives $2.29 Consensus Target Price from Analysts

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has received a consensus rating of “Reduce” from the seven research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $2.2920.

Several equities research analysts have recently weighed in on CCO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th. TD Cowen restated a “hold” rating and issued a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, Director Raymond T. White sold 23,435,796 shares of Clear Channel Outdoor stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $2.40, for a total value of $56,245,910.40. Following the transaction, the director directly owned 187,371 shares in the company, valued at approximately $449,690.40. This trade represents a 99.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 26,239,967 shares of company stock valued at $62,975,921. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors acquired a new position in Clear Channel Outdoor in the 4th quarter valued at $27,000. EntryPoint Capital LLC purchased a new position in Clear Channel Outdoor during the 4th quarter worth $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter worth $31,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Clear Channel Outdoor in the 1st quarter worth $32,000. Finally, Sargent Investment Group LLC purchased a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at about $33,000. 85.52% of the stock is owned by institutional investors and hedge funds.

Clear Channel Outdoor Price Performance

CCO stock opened at $2.40 on Friday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -13.36 and a beta of 1.95. The company has a fifty day moving average price of $2.40 and a 200 day moving average price of $2.33. Clear Channel Outdoor has a 12 month low of $1.00 and a 12 month high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) 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. As a group, analysts anticipate that Clear Channel Outdoor will post -0.04 earnings per share for the current year.

Clear Channel Outdoor Company Profile

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.