Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Analysts give Clear Channel Outdoor an average “Reduce” rating: Two analysts recommend selling and four recommend holding, with an average 12-month price target of $2.2920.
• CCO shares opened at $2.38, near their 52-week high of $2.44. The company met quarterly EPS expectations at a loss of $0.01 but exceeded revenue estimates, reporting $438.04 million.
• Insider selling has been significant: Director Raymond T. White sold more than 23.4 million shares for approximately $56.2 million, while institutional investors and hedge funds own 85.52% of the stock.

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) have been assigned an average rating of "Reduce" from the six research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $2.2920.

Separately, Weiss Ratings upgraded Clear Channel Outdoor from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th.

Clear Channel Outdoor Stock Performance

CCO stock opened at $2.38 on Monday. The firm has a 50 day simple moving average of $2.40 and a 200-day simple moving average of $2.38. The company has a market capitalization of $1.21 billion, a P/E ratio of -11.33 and a beta of 1.95. Clear Channel Outdoor has a twelve month low of $1.20 and a twelve month high of $2.44.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $438.04 million during the quarter, compared to analyst estimates of $423.62 million. On average, research analysts predict that Clear Channel Outdoor will post -0.05 EPS for the current year.

Insider Transactions at Clear Channel Outdoor

In other Clear Channel Outdoor news, Director Raymond T. White sold 23,435,796 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $2.40, for a total value of $56,245,910.40. Following the sale, the director owned 187,371 shares in the company, valued at approximately $449,690.40. This trade represents a 99.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 26,239,967 shares of company stock worth $62,975,921. Insiders own 7.20% of the company's stock.

Institutional Trading of Clear Channel Outdoor

Large investors have recently added to or reduced their stakes in the business. Ieq Capital LLC grew its holdings in shares of Clear Channel Outdoor by 8.3% during the fourth quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider's stock valued at $130,000 after buying an additional 4,493 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Clear Channel Outdoor by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider's stock worth $234,000 after acquiring an additional 8,976 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Clear Channel Outdoor during the 4th quarter worth about $27,000. EntryPoint Capital LLC purchased a new stake in shares of Clear Channel Outdoor in the fourth quarter worth approximately $28,000. Finally, State Street Corp increased its stake in shares of Clear Channel Outdoor by 0.6% in the fourth quarter. State Street Corp now owns 2,454,158 shares of the business services provider's stock worth $5,424,000 after acquiring an additional 13,630 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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