Barrington Research Reaffirms Outperform Rating for Clear Channel Outdoor (NYSE:CCO)

Clear Channel Outdoor (NYSE:CCOGet Free Report)‘s stock had its “outperform” rating reissued by equities researchers at Barrington Research in a research report issued on Monday, Benzinga reports. They currently have a $2.50 target price on the business services provider’s stock. Barrington Research’s price objective points to a potential upside of 60.26% from the company’s current price.

A number of other analysts have also weighed in on CCO. Morgan Stanley raised their price objective on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. StockNews.com raised shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.16.

Check Out Our Latest Analysis on Clear Channel Outdoor

Clear Channel Outdoor Stock Down 0.6 %

Shares of NYSE:CCO traded down $0.01 on Monday, hitting $1.56. The company had a trading volume of 761,258 shares, compared to its average volume of 2,233,456. The firm’s 50-day simple moving average is $1.58 and its two-hundred day simple moving average is $1.59. Clear Channel Outdoor has a 1 year low of $1.04 and a 1 year high of $2.06. The firm has a market capitalization of $754.60 million, a price-to-earnings ratio of -2.03 and a beta of 2.91.

Clear Channel Outdoor (NYSE:CCOGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $481.75 million during the quarter, compared to the consensus estimate of $480.69 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Equities research analysts anticipate that Clear Channel Outdoor will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Clear Channel Outdoor

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of Clear Channel Outdoor by 19.9% during the third quarter. SG Americas Securities LLC now owns 143,417 shares of the business services provider’s stock valued at $227,000 after buying an additional 23,756 shares during the last quarter. Optas LLC bought a new stake in shares of Clear Channel Outdoor during the third quarter valued at approximately $27,000. Requisite Capital Management LLC bought a new stake in shares of Clear Channel Outdoor during the third quarter valued at approximately $316,000. Principal Financial Group Inc. raised its position in shares of Clear Channel Outdoor by 39.2% during the third quarter. Principal Financial Group Inc. now owns 55,130 shares of the business services provider’s stock valued at $87,000 after buying an additional 15,511 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Clear Channel Outdoor by 3,466.3% during the third quarter. Quantbot Technologies LP now owns 126,213 shares of the business services provider’s stock valued at $199,000 after buying an additional 122,674 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

(Get Free Report)

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.

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