Analysts Set Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Price Target at $2.29

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been given a consensus recommendation of “Reduce” by the six brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $2.2920.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th.

Insiders Place Their Bets

In related news, Director Raymond T. White sold 2,500,900 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $2.40, for a total value of $6,002,160.00. Following the completion of the sale, the director directly owned 91,003 shares in the company, valued at $218,407.20. This trade represents a 96.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 26,239,967 shares of company stock worth $62,975,921. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Several hedge funds and other institutional investors have recently made changes to their positions in CCO. Captrust Financial Advisors bought a new position in Clear Channel Outdoor during the 4th quarter valued at about $27,000. EntryPoint Capital LLC bought a new stake in Clear Channel Outdoor in the fourth quarter worth about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Clear Channel Outdoor during the fourth quarter valued at approximately $31,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Clear Channel Outdoor during the first quarter valued at approximately $32,000. Finally, Sargent Investment Group LLC bought a new position in shares of Clear Channel Outdoor during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Trading Down 0.6%

Shares of NYSE CCO opened at $2.42 on Thursday. The firm’s 50-day moving average price is $2.41 and its 200-day moving average price is $2.36. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -13.42 and a beta of 1.95. Clear Channel Outdoor has a 12-month low of $1.02 and a 12-month high of $2.44.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Monday, August 10th. The business services provider reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $438.04 million during the quarter, compared to analysts’ expectations of $423.62 million. On average, equities analysts predict that Clear Channel Outdoor will post -0.06 EPS for the current fiscal year.

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.