Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Free Report) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 34,210,000 shares, a growth of 7.6% from the May 31st total of 31,780,000 shares. Currently, 8.4% of the company’s shares are sold short. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is presently 18.9 days.
Clear Channel Outdoor Price Performance
Shares of NYSE CCO opened at $1.59 on Thursday. Clear Channel Outdoor has a 52-week low of $1.04 and a 52-week high of $2.06. The firm has a fifty day moving average of $1.45 and a 200-day moving average of $1.61.
Clear Channel Outdoor (NYSE:CCO – Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $480.69 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. As a group, analysts anticipate that Clear Channel Outdoor will post -0.25 EPS for the current fiscal year.
Institutional Investors Weigh In On Clear Channel Outdoor
Analyst Upgrades and Downgrades
Separately, Barrington Research reissued an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.16.
Read Our Latest Stock Report on CCO
About Clear Channel Outdoor
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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