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

Clear Channel Outdoor (NYSE:CCO)‘s stock had its “outperform” rating restated by analysts at Barrington Research in a research note issued to investors on Thursday, Benzinga reports. They presently have a $2.50 target price on the business services provider’s stock. Barrington Research’s price target would indicate a potential upside of 70.65% from the company’s current price.

Separately, Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $2.75 to $1.75 in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.16.

Clear Channel Outdoor Stock Performance

CCO stock opened at $1.47 on Thursday. Clear Channel Outdoor has a 12-month low of $1.04 and a 12-month high of $2.06. The firm’s 50-day moving average price is $1.56 and its two-hundred day moving average price is $1.52. The stock has a market capitalization of $716.31 million, a price-to-earnings ratio of -1.90 and a beta of 3.07.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $558.54 million for the quarter, compared to the consensus estimate of $563.75 million. Equities analysts predict that Clear Channel Outdoor will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Clear Channel Outdoor

Several hedge funds and other institutional investors have recently made changes to their positions in CCO. CarsonAllaria Wealth Management Ltd. bought a new position in Clear Channel Outdoor in the 3rd quarter valued at $34,000. Ground Swell Capital LLC bought a new stake in shares of Clear Channel Outdoor in the 3rd quarter valued at about $34,000. Stratos Wealth Advisors LLC acquired a new stake in shares of Clear Channel Outdoor in the 3rd quarter worth $40,000. Point72 DIFC Ltd purchased a new position in shares of Clear Channel Outdoor in the 2nd quarter valued at approximately $55,000. Finally, XTX Topco Ltd increased its position in shares of Clear Channel Outdoor by 28.4% in the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 17,957 shares during the period. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Company Profile

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.