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

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Clear Channel Outdoor (NYSE:CCO)‘s stock had its “hold” rating reaffirmed by analysts at Barrington Research in a research report issued on Thursday.

Several other equities research analysts also recently weighed in on the company. ValuEngine upgraded Clear Channel Outdoor from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Zacks Investment Research upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Clear Channel Outdoor currently has an average rating of “Hold” and a consensus price target of $12.00.

Shares of NYSE CCO opened at $5.81 on Thursday. Clear Channel Outdoor has a 1-year low of $3.81 and a 1-year high of $6.38. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 298.50 and a beta of 1.47.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results 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 business had revenue of $663.74 million during the quarter, compared to the consensus estimate of $655.32 million. As a group, equities analysts expect that Clear Channel Outdoor will post -0.6 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Appleton Partners Inc. MA increased its holdings in Clear Channel Outdoor by 54.1% during the 3rd quarter. Appleton Partners Inc. MA now owns 22,705 shares of the business services provider’s stock worth $135,000 after purchasing an additional 7,975 shares during the period. California Public Employees Retirement System increased its holdings in shares of Clear Channel Outdoor by 32.5% in the 1st quarter. California Public Employees Retirement System now owns 74,577 shares of the business services provider’s stock valued at $365,000 after acquiring an additional 18,277 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Clear Channel Outdoor by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 558,943 shares of the business services provider’s stock valued at $2,739,000 after acquiring an additional 19,094 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Clear Channel Outdoor in the 3rd quarter valued at about $119,000. Finally, Northern Trust Corp increased its holdings in shares of Clear Channel Outdoor by 4.3% in the 2nd quarter. Northern Trust Corp now owns 542,933 shares of the business services provider’s stock valued at $2,334,000 after acquiring an additional 22,619 shares during the last quarter. Institutional investors own 8.84% of the company’s stock.

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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