CLEAR CHANNEL O/SH (NYSE:CCO)’s share price rose 1.1% during trading on Wednesday . The stock traded as high as $2.78 and last traded at $2.79, approximately 1,152,534 shares were traded during trading. A decline of 78% from the average daily volume of 5,290,694 shares. The stock had previously closed at $2.76.
Several research firms have weighed in on CCO. Wolfe Research lowered CLEAR CHANNEL O/SH from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Citigroup assumed coverage on CLEAR CHANNEL O/SH in a report on Wednesday, September 4th. They issued a “neutral” rating and a $2.70 price target for the company. Cowen assumed coverage on CLEAR CHANNEL O/SH in a research report on Wednesday, September 4th. They set an “outperform” rating and a $3.00 price target on the stock. Zacks Investment Research raised CLEAR CHANNEL O/SH from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Friday, August 9th. Finally, Barclays began coverage on CLEAR CHANNEL O/SH in a report on Wednesday, September 4th. They set an “overweight” rating and a $3.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $7.31.
The company’s 50-day moving average price is $2.67 and its 200-day moving average price is $4.48. The company has a market cap of $1.29 billion, a P/E ratio of -4.75 and a beta of 0.79.
CLEAR CHANNEL O/SH (NYSE:CCO) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $698.02 million during the quarter, compared to the consensus estimate of $698.33 million. On average, analysts predict that CLEAR CHANNEL O/SH will post -0.5 EPS for the current fiscal year.
In other news, Director W Benjamin Moreland purchased 400,000 shares of CLEAR CHANNEL O/SH stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $2.28 per share, with a total value of $912,000.00. Following the transaction, the director now directly owns 241,840 shares in the company, valued at approximately $551,395.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher William Eccleshare sold 81,454 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $2.54, for a total transaction of $206,893.16. Following the transaction, the chief executive officer now directly owns 950,536 shares of the company’s stock, valued at $2,414,361.44. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 435,000 shares of company stock valued at $996,200. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oaktree Capital Management LP acquired a new position in CLEAR CHANNEL O/SH during the second quarter worth $7,938,000. Prudential PLC bought a new position in CLEAR CHANNEL O/SH in the second quarter valued at $3,511,000. York Capital Management Global Advisors LLC acquired a new stake in CLEAR CHANNEL O/SH in the 2nd quarter valued at $14,519,000. OZ Management LP acquired a new stake in CLEAR CHANNEL O/SH in the 2nd quarter valued at $20,487,000. Finally, Eaton Vance Management acquired a new stake in CLEAR CHANNEL O/SH in the 2nd quarter valued at $12,395,000. Institutional investors own 76.05% of the company’s stock.
CLEAR CHANNEL O/SH Company Profile (NYSE:CCO)
Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through 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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