Clear Channel Outdoor (NYSE:CCO) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Clear Channel Outdoor (NYSE:CCO) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

Several other equities research analysts also recently commented on CCO. UBS Group set a $2.50 price objective on shares of Clear Channel Outdoor in a report on Thursday, September 25th. Morgan Stanley set a $1.75 price objective on shares of Clear Channel Outdoor in a report on Wednesday, September 10th. TD Cowen upped their price objective on shares of Clear Channel Outdoor from $1.60 to $2.50 and gave the company a “buy” rating in a report on Thursday, September 25th. Barrington Research reaffirmed a “market perform” rating on shares of Clear Channel Outdoor in a report on Wednesday, July 23rd. Finally, Citigroup upped their price objective on shares of Clear Channel Outdoor from $1.25 to $1.35 and gave the company a “neutral” rating in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.12.

Clear Channel Outdoor Stock Performance

CCO opened at $1.42 on Wednesday. The firm has a market cap of $703.27 million, a P/E ratio of 35.38 and a beta of 2.64. The firm has a 50-day moving average of $1.33 and a 200 day moving average of $1.18. Clear Channel Outdoor has a fifty-two week low of $0.81 and a fifty-two week high of $1.69.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $402.81 million for the quarter, compared to the consensus estimate of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insider Transactions at Clear Channel Outdoor

In other news, major shareholder Ares Management Llc sold 13,000,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total value of $14,690,000.00. Following the sale, the insider directly owned 41,197,491 shares of the company’s stock, valued at approximately $46,553,164.83. This represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Arturo R. Moreno purchased 1,000,000 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased at an average cost of $1.07 per share, for a total transaction of $1,070,000.00. Following the completion of the acquisition, the insider owned 65,612,859 shares of the company’s stock, valued at approximately $70,205,759.13. This represents a 1.55% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,478,507 shares of company stock worth $1,591,573. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in shares of Clear Channel Outdoor in the first quarter worth approximately $39,000. Anson Funds Management LP increased its position in shares of Clear Channel Outdoor by 7.8% in the first quarter. Anson Funds Management LP now owns 18,076,186 shares of the business services provider’s stock worth $20,065,000 after purchasing an additional 1,310,680 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Clear Channel Outdoor by 28.6% in the first quarter. Russell Investments Group Ltd. now owns 546,947 shares of the business services provider’s stock worth $607,000 after purchasing an additional 121,578 shares during the last quarter. Swiss National Bank increased its position in shares of Clear Channel Outdoor by 9.5% in the first quarter. Swiss National Bank now owns 473,800 shares of the business services provider’s stock worth $526,000 after purchasing an additional 41,000 shares during the last quarter. Finally, XTX Topco Ltd increased its position in shares of Clear Channel Outdoor by 20.7% in the first quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider’s stock worth $112,000 after purchasing an additional 17,292 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.