CLEAR CHANNEL O/SH (CCO) Receives $12.00 Average PT from Analysts

CLEAR CHANNEL O/SH (NYSE:CCO) has been given an average recommendation of “Hold” by the six analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $12.00.

A number of research firms recently issued reports on CCO. Barrington Research reaffirmed a “buy” rating and issued a $6.50 price target on shares of CLEAR CHANNEL O/SH in a report on Monday, April 29th. ValuEngine cut CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Zacks Investment Research cut CLEAR CHANNEL O/SH from a “hold” rating to a “strong sell” rating in a report on Thursday, May 2nd. TheStreet raised CLEAR CHANNEL O/SH from a “d” rating to a “c-” rating in a report on Friday, March 8th. Finally, BMO Capital Markets reaffirmed an “average” rating and issued a $17.50 price target on shares of CLEAR CHANNEL O/SH in a report on Tuesday, February 12th.

Shares of CLEAR CHANNEL O/SH stock traded up $0.24 during trading on Wednesday, reaching $4.90. The company’s stock had a trading volume of 670,900 shares, compared to its average volume of 144,650. CLEAR CHANNEL O/SH has a one year low of $4.22 and a one year high of $6.38. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -8.43 and a beta of 0.99.

CLEAR CHANNEL O/SH (NYSE:CCO) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.23). The company had revenue of $587.12 million during the quarter, compared to analyst estimates of $584.92 million. Equities analysts predict that CLEAR CHANNEL O/SH will post -0.6 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its holdings in CLEAR CHANNEL O/SH by 56.4% during the 4th quarter. Legal & General Group Plc now owns 8,116 shares of the business services provider’s stock worth $42,000 after purchasing an additional 2,927 shares during the last quarter. California Public Employees Retirement System raised its holdings in CLEAR CHANNEL O/SH by 7.2% during the 4th quarter. California Public Employees Retirement System now owns 73,340 shares of the business services provider’s stock worth $381,000 after purchasing an additional 4,935 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in CLEAR CHANNEL O/SH by 900.6% during the 4th quarter. Meeder Asset Management Inc. now owns 6,234 shares of the business services provider’s stock worth $32,000 after purchasing an additional 5,611 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in CLEAR CHANNEL O/SH by 24.0% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 31,000 shares of the business services provider’s stock worth $166,000 after purchasing an additional 6,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in CLEAR CHANNEL O/SH by 288.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,694 shares of the business services provider’s stock worth $47,000 after purchasing an additional 6,458 shares during the last quarter. 8.93% of the stock is owned by institutional investors and hedge funds.

CLEAR CHANNEL O/SH Company Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through 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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