Clear Channel Outdoor (NYSE:CCO) Sees Unusually-High Trading Volume

Clear Channel Outdoor Holdings, Inc. (NYSE:CCOGet Free Report) saw strong trading volume on Thursday . 3,420,792 shares changed hands during trading, an increase of 60% from the previous session’s volume of 2,135,213 shares.The stock last traded at $1.42 and had previously closed at $1.44.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Barrington Research restated an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a report on Tuesday, May 28th. Finally, Morgan Stanley upped their target price on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.16.

Check Out Our Latest Analysis on CCO

Clear Channel Outdoor Stock Performance

The company has a 50 day moving average price of $1.51 and a 200 day moving average price of $1.62. The firm has a market cap of $679.31 million, a price-to-earnings ratio of -1.79 and a beta of 3.01.

Clear Channel Outdoor (NYSE:CCOGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. The business had revenue of $481.75 million during the quarter, compared to analyst estimates of $480.69 million. During the same period last year, the company earned ($0.23) EPS. On average, research analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On Clear Channel Outdoor

Several large investors have recently modified their holdings of CCO. CCG Wealth Management LLC acquired a new position in Clear Channel Outdoor during the 1st quarter worth about $46,000. Quadrature Capital Ltd acquired a new position in Clear Channel Outdoor during the 4th quarter worth about $68,000. Principal Financial Group Inc. lifted its stake in Clear Channel Outdoor by 39.2% during the 3rd quarter. Principal Financial Group Inc. now owns 55,130 shares of the business services provider’s stock worth $87,000 after acquiring an additional 15,511 shares in the last quarter. Quantbot Technologies LP lifted its stake in Clear Channel Outdoor by 3,466.3% during the 3rd quarter. Quantbot Technologies LP now owns 126,213 shares of the business services provider’s stock worth $199,000 after acquiring an additional 122,674 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Clear Channel Outdoor by 63.3% during the 1st quarter. BNP Paribas Financial Markets now owns 212,246 shares of the business services provider’s stock worth $350,000 after acquiring an additional 82,286 shares in the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.

About Clear Channel Outdoor

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Clear Channel Outdoor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor and related companies with MarketBeat.com's FREE daily email newsletter.