Clear Channel Outdoor (NYSE:CCO) Stock Rating Lowered by Zacks Research

Clear Channel Outdoor (NYSE:CCO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also recently commented on CCO. Wall Street Zen cut shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Citigroup upped their price objective on Clear Channel Outdoor from $1.35 to $2.10 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Cowen reissued a “buy” rating on shares of Clear Channel Outdoor in a report on Monday, October 20th. UBS Group set a $2.50 target price on Clear Channel Outdoor in a research note on Thursday, September 25th. Finally, TD Cowen boosted their price objective on shares of Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of “Hold” and a consensus target price of $2.32.

Clear Channel Outdoor Price Performance

NYSE:CCO traded down $0.01 during trading hours on Thursday, hitting $1.90. The stock had a trading volume of 2,620,605 shares, compared to its average volume of 2,765,245. The company has a 50 day simple moving average of $1.61 and a two-hundred day simple moving average of $1.31. The firm has a market capitalization of $941.84 million, a price-to-earnings ratio of 47.39 and a beta of 2.63. Clear Channel Outdoor has a one year low of $0.81 and a one year high of $2.03.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $405.64 million for the quarter, compared to analysts’ expectations of $402.03 million. Clear Channel Outdoor has set its Q4 2025 guidance at EPS.

Insider Activity

In other Clear Channel Outdoor news, major shareholder Ares Management Llc sold 13,000,000 shares of Clear Channel Outdoor stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $1.13, for a total transaction of $14,690,000.00. Following the completion of the transaction, the insider owned 41,197,491 shares in the company, valued at approximately $46,553,164.83. The trade was a 23.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of hedge funds have recently bought and sold shares of CCO. Sanders Morris Harris LLC bought a new stake in Clear Channel Outdoor during the 3rd quarter valued at about $25,000. CWM LLC grew its holdings in shares of Clear Channel Outdoor by 97.9% during the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after buying an additional 8,248 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Clear Channel Outdoor during the first quarter valued at approximately $31,000. Burney Co. purchased a new position in Clear Channel Outdoor in the 3rd quarter worth approximately $32,000. Finally, Advisors Capital Management LLC lifted its position in Clear Channel Outdoor by 91.7% in the 3rd quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 11,000 shares in the last quarter. Institutional investors own 85.52% of the company’s stock.

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.