Clear Channel Outdoor (NYSE:CCO) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Technical breakout: CCO's share price moved above its 200‑day moving average of $2.08, trading as high as $2.40 and last at $2.3950 on about 4.96 million shares.
• Analyst sentiment weak: MarketBeat shows a consensus "Reduce" (five Holds, two Sells) with an average price target of $2.29; recent notes include Weiss reaffirming a sell (D‑), TD Cowen trimming its target to $2.43, and Wells Fargo raising its target to $2.43 (equal weight).
• Recent results and ownership: The company beat estimates with $0.02 EPS vs $0.01 expected and $461.5M revenue vs $449.1M expected; market cap is about $1.19B, P/E ~47.9, and institutional ownership is ~85.5%.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.08 and traded as high as $2.40. Clear Channel Outdoor shares last traded at $2.3950, with a volume of 4,964,509 shares changing hands.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clear Channel Outdoor in a research note on Friday, March 27th. TD Cowen reaffirmed a "hold" rating and set a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Finally, Wells Fargo & Company increased their price objective on Clear Channel Outdoor from $2.00 to $2.43 and gave the company an "equal weight" rating in a research note on Friday, February 27th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Clear Channel Outdoor has a consensus rating of "Reduce" and an average price target of $2.29.

Clear Channel Outdoor Stock Down 0.6%

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 47.91 and a beta of 2.26. The business has a 50 day moving average of $2.37 and a 200 day moving average of $2.08.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The business services provider reported $0.02 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. The company had revenue of $461.52 million for the quarter, compared to analyst estimates of $449.10 million.

Hedge Funds Weigh In On Clear Channel Outdoor

Large investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors purchased a new position in Clear Channel Outdoor during the fourth quarter worth about $27,000. EntryPoint Capital LLC purchased a new position in Clear Channel Outdoor during the fourth quarter worth about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Clear Channel Outdoor during the fourth quarter worth about $31,000. Sargent Investment Group LLC purchased a new position in Clear Channel Outdoor during the fourth quarter worth about $33,000. Finally, Sanders Morris Harris LLC purchased a new position in Clear Channel Outdoor during the third quarter worth about $25,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

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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