Clear Channel Outdoor Holdings Inc. (CCO) Cut to “Sell” at TheStreet
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) was downgraded by equities researchers at TheStreet from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
A number of other equities analysts have also recently issued reports on the stock. Loop Capital began coverage on shares of Clear Channel Outdoor Holdings in a research note on Monday. They issued a “sell” rating and a $5.50 price target on the stock. Zacks Investment Research upgraded shares of Clear Channel Outdoor Holdings from a “hold” rating to a “strong-buy” rating and set a $7.50 price target on the stock in a research note on Tuesday, July 5th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $5.00.
Clear Channel Outdoor Holdings (NYSE:CCO) remained flat at $5.99 during trading on Wednesday. The stock had a trading volume of 108,347 shares. The firm has a market capitalization of $2.16 billion, a P/E ratio of 299.50 and a beta of 1.55. The company has a 50-day moving average of $6.69 and a 200-day moving average of $5.84. Clear Channel Outdoor Holdings has a one year low of $2.97 and a one year high of $8.46.
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Clear Channel Outdoor Holdings (NYSE:CCO) last announced its earnings results on Thursday, August 4th. The company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.22. Clear Channel Outdoor Holdings had a net margin of 0.25% and a negative return on equity of 3.04%. The business had revenue of $712.15 million for the quarter, compared to the consensus estimate of $721.57 million. Equities research analysts expect that Clear Channel Outdoor Holdings will post $0.26 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new position in Clear Channel Outdoor Holdings during the second quarter valued at about $158,000. O Shaughnessy Asset Management LLC bought a new position in Clear Channel Outdoor Holdings during the second quarter valued at about $164,000. Rhumbline Advisers boosted its position in Clear Channel Outdoor Holdings by 2.7% in the second quarter. Rhumbline Advisers now owns 29,543 shares of the company’s stock valued at $184,000 after buying an additional 781 shares in the last quarter. M&T Bank Corp bought a new position in Clear Channel Outdoor Holdings during the first quarter valued at about $150,000. Finally, Panagora Asset Management Inc. boosted its position in Clear Channel Outdoor Holdings by 45.3% in the second quarter. Panagora Asset Management Inc. now owns 39,970 shares of the company’s stock valued at $249,000 after buying an additional 12,463 shares in the last quarter. Institutional investors and hedge funds own 9.32% of the company’s stock.
Clear Channel Outdoor Holdings Company Profile
Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company owns and operates billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. It operates in two segments: Americas outdoor advertising (Americas) and International outdoor advertising (International).
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