Clear Channel Outdoor (NYSE:CCO) Shares Down 5.3%

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s stock price traded down 5.3% during mid-day trading on Thursday . The company traded as low as $2.31 and last traded at $2.31. 14,207 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 5,052,716 shares. The stock had previously closed at $2.44.

A number of research analysts have recently issued reports on the company. BMO Capital Markets reissued a “market perform” rating on shares of Clear Channel Outdoor in a report on Monday, May 17th. Morgan Stanley boosted their target price on Clear Channel Outdoor from $2.50 to $3.00 and gave the company an “equal weight” rating in a report on Friday, June 11th. Citigroup boosted their target price on Clear Channel Outdoor from $2.20 to $2.50 and gave the company a “neutral” rating in a report on Thursday, June 10th. upped their price objective on Clear Channel Outdoor from $2.20 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, June 10th. Finally, Zacks Investment Research lowered Clear Channel Outdoor from a “buy” rating to a “hold” rating in a report on Thursday, July 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $4.54.

The stock has a fifty day simple moving average of $2.53. The firm has a market capitalization of $1.10 billion, a PE ratio of -1.69 and a beta of 2.64.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Sunday, May 9th. The business services provider reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.25). The business had revenue of $370.91 million during the quarter, compared to the consensus estimate of $367.85 million. As a group, equities research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.79 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its holdings in Clear Channel Outdoor by 44.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,400 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 4,400 shares during the last quarter. Centiva Capital LP grew its holdings in Clear Channel Outdoor by 32.1% in the first quarter. Centiva Capital LP now owns 22,515 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 5,468 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Clear Channel Outdoor by 22.3% in the first quarter. Teacher Retirement System of Texas now owns 39,240 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 7,166 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Clear Channel Outdoor by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 421,487 shares of the business services provider’s stock valued at $759,000 after purchasing an additional 11,752 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Clear Channel Outdoor by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,131,818 shares of the business services provider’s stock valued at $3,518,000 after acquiring an additional 13,617 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors.

About Clear Channel Outdoor (NYSE:CCO)

Clear Channel Outdoor Holdings, Inc owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures; and retail and other small displays.

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