According to Zacks, “Clear Channel Outdoor Holdings, based in San Antonio, TX, is a global leader in outdoor advertising displays in countries across continents. In the United States, the company operates advertising displays and has a presence of the top DMA regions. It manages a large portion of Spectacular Displays in Times Square as well as Airport, Taxi and Mall advertising worldwide. Adshel is the company’s International street furniture division. “
A number of other equities research analysts have also recently issued reports on CCO. Loop Capital started coverage on shares of Clear Channel Outdoor Holdings in a report on Monday, September 12th. They issued a sell rating and a $5.50 target price on the stock. TheStreet cut shares of Clear Channel Outdoor Holdings from a hold rating to a sell rating in a report on Wednesday, September 14th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $5.00.
Clear Channel Outdoor Holdings (NYSE:CCO) opened at 5.75 on Tuesday. The company has a market cap of $2.07 billion, a PE ratio of 287.50 and a beta of 1.49. Clear Channel Outdoor Holdings has a 1-year low of $2.97 and a 1-year high of $7.74. The stock has a 50 day moving average of $6.25 and a 200-day moving average of $6.08.
Clear Channel Outdoor Holdings (NYSE:CCO) last issued its earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.22. The firm earned $712.15 million during the quarter, compared to the consensus estimate of $721.57 million. Clear Channel Outdoor Holdings had a net margin of 0.25% and a negative return on equity of 3.04%. On average, equities research analysts predict that Clear Channel Outdoor Holdings will post $0.26 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Clear Channel Outdoor Holdings by 1.7% in the first quarter. JPMorgan Chase & Co. now owns 5,458,885 shares of the company’s stock valued at $25,656,000 after buying an additional 91,947 shares in the last quarter. Brookfield Asset Management Inc. acquired a new position in shares of Clear Channel Outdoor Holdings during the first quarter worth about $2,728,000. M&T Bank Corp acquired a new position in shares of Clear Channel Outdoor Holdings during the first quarter worth about $150,000. State Street Corp raised its position in shares of Clear Channel Outdoor Holdings by 2.4% in the first quarter. State Street Corp now owns 668,733 shares of the company’s stock worth $3,145,000 after buying an additional 15,521 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Clear Channel Outdoor Holdings during the second quarter worth about $158,000. 9.32% of the stock is currently owned by hedge funds and other institutional investors.
About Clear Channel Outdoor Holdings
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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