Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been given an average rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.25.
Several brokerages have issued reports on CCO. Zacks Investment Research upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Scotiabank restated a “sell” rating and issued a $12.00 target price on shares of Clear Channel Outdoor in a report on Monday, December 4th. ValuEngine upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, October 13th. Finally, Loop Capital dropped their target price on Clear Channel Outdoor from $5.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, November 9th.
A number of large investors have recently modified their holdings of CCO. Alta Fundamental Advisers LLC purchased a new stake in Clear Channel Outdoor in the 2nd quarter valued at $2,636,000. Northern Trust Corp lifted its stake in shares of Clear Channel Outdoor by 196.3% in the 2nd quarter. Northern Trust Corp now owns 523,856 shares of the business services provider’s stock valued at $2,540,000 after purchasing an additional 347,073 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Clear Channel Outdoor by 12.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,116,152 shares of the business services provider’s stock valued at $15,114,000 after purchasing an additional 346,755 shares during the last quarter. Blackstone Group L.P. lifted its stake in shares of Clear Channel Outdoor by 37.3% in the 3rd quarter. Blackstone Group L.P. now owns 1,198,257 shares of the business services provider’s stock valued at $5,572,000 after purchasing an additional 325,257 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Clear Channel Outdoor by 5.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,696,145 shares of the business services provider’s stock valued at $27,626,000 after purchasing an additional 300,142 shares during the last quarter. Institutional investors own 9.47% of the company’s stock.
Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.11). Clear Channel Outdoor had a negative return on equity of 0.52% and a net margin of 0.24%. analysts predict that Clear Channel Outdoor will post -0.23 EPS for the current fiscal 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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