Clear Channel Outdoor (NYSE:CCO) Shares Gap Up to $1.33

Clear Channel Outdoor Holdings, Inc. (NYSE:CCOGet Rating)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $1.33, but opened at $1.40. Clear Channel Outdoor shares last traded at $1.39, with a volume of 5,050 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CCO shares. Citigroup lowered their price target on Clear Channel Outdoor from $1.65 to $1.10 in a research report on Tuesday, November 22nd. Morgan Stanley decreased their target price on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Wednesday, November 9th. Barrington Research decreased their target price on Clear Channel Outdoor from $3.25 to $2.50 in a research report on Wednesday, November 16th. Finally, StockNews.com started coverage on Clear Channel Outdoor in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

Clear Channel Outdoor Stock Up 6.0 %

The business has a fifty day simple moving average of $1.09 and a two-hundred day simple moving average of $1.36. The company has a market capitalization of $671.23 million, a price-to-earnings ratio of -5.04 and a beta of 2.28.

Clear Channel Outdoor (NYSE:CCOGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The business services provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The business had revenue of $602.91 million during the quarter, compared to the consensus estimate of $602.35 million. As a group, equities analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of institutional investors have recently added to or reduced their stakes in CCO. Zazove Associates LLC bought a new position in shares of Clear Channel Outdoor in the third quarter valued at approximately $6,508,000. Penn Capital Management Company LLC grew its holdings in shares of Clear Channel Outdoor by 1,335.3% in the 2nd quarter. Penn Capital Management Company LLC now owns 3,926,562 shares of the business services provider’s stock valued at $4,201,000 after buying an additional 3,652,990 shares during the period. Aristeia Capital LLC boosted its stake in Clear Channel Outdoor by 786.9% in the 3rd quarter. Aristeia Capital LLC now owns 3,725,000 shares of the business services provider’s stock worth $5,103,000 after purchasing an additional 3,305,000 shares during the period. Franklin Resources Inc. boosted its stake in Clear Channel Outdoor by 68.6% in the 2nd quarter. Franklin Resources Inc. now owns 7,329,745 shares of the business services provider’s stock worth $7,844,000 after purchasing an additional 2,982,276 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Clear Channel Outdoor by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 37,671,943 shares of the business services provider’s stock worth $130,345,000 after purchasing an additional 2,381,643 shares during the period.

About Clear Channel Outdoor

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Clear Channel Outdoor Holdings, Inc owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. 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; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures.

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