Clear Channel Outdoor (CCO) Receives “Hold” Rating from Barrington Research

Barrington Research reiterated their hold rating on shares of Clear Channel Outdoor (NYSE:CCO) in a report published on Thursday.

Other equities research analysts also recently issued reports about the company. ValuEngine raised Clear Channel Outdoor from a hold rating to a buy rating in a report on Thursday, October 18th. Zacks Investment Research raised Clear Channel Outdoor from a sell rating to a hold rating in a report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Clear Channel Outdoor has an average rating of Hold and a consensus price target of $8.00.

Clear Channel Outdoor stock traded down $0.39 during mid-day trading on Thursday, hitting $5.81. The company had a trading volume of 65,258 shares, compared to its average volume of 140,529. The firm has a market capitalization of $2.08 billion, a P/E ratio of 285.50 and a beta of 1.47. Clear Channel Outdoor has a 1 year low of $3.81 and a 1 year high of $6.38.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Thursday, November 8th. The business services provider reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.08). The firm had revenue of $663.74 million during the quarter, compared to analyst estimates of $655.32 million. As a group, sell-side analysts predict that Clear Channel Outdoor will post -0.6 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP acquired a new stake in shares of Clear Channel Outdoor in the third quarter valued at approximately $119,000. Appleton Partners Inc. MA boosted its holdings in shares of Clear Channel Outdoor by 54.1% in the third quarter. Appleton Partners Inc. MA now owns 22,705 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 7,975 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Clear Channel Outdoor by 32.5% during the first quarter. California Public Employees Retirement System now owns 74,577 shares of the business services provider’s stock worth $365,000 after purchasing an additional 18,277 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Clear Channel Outdoor by 23.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 167,524 shares of the business services provider’s stock worth $721,000 after purchasing an additional 31,851 shares during the period. Finally, Serengeti Asset Management LP acquired a new stake in shares of Clear Channel Outdoor during the second quarter worth $1,075,000. 8.84% of the stock is owned by institutional investors and hedge funds.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates in two segments, Americas Outdoor Advertising and International Outdoor Advertising. 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; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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