TD Cowen Has Lowered Expectations for Clear Channel Outdoor (NYSE:CCO) Stock Price

Clear Channel Outdoor (NYSE:CCO) had its price target decreased by equities researchers at TD Cowen from $2.60 to $2.40 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. TD Cowen’s target price indicates a potential upside of 65.52% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Barrington Research restated an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research note on Thursday. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $2.75 to $1.75 in a research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.16.

Clear Channel Outdoor Price Performance

Shares of NYSE CCO opened at $1.45 on Friday. The business has a 50-day moving average of $1.56 and a 200-day moving average of $1.52. The stock has a market capitalization of $708.98 million, a price-to-earnings ratio of -1.88 and a beta of 3.07. Clear Channel Outdoor has a fifty-two week low of $1.04 and a fifty-two week high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $558.54 million during the quarter, compared to the consensus estimate of $563.75 million. On average, sell-side analysts expect that Clear Channel Outdoor will post -0.29 EPS for the current year.

Institutional Trading of Clear Channel Outdoor

Large investors have recently made changes to their positions in the company. Ground Swell Capital LLC acquired a new position in shares of Clear Channel Outdoor during the 3rd quarter worth $34,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Clear Channel Outdoor during the third quarter worth about $34,000. Stratos Wealth Advisors LLC bought a new position in shares of Clear Channel Outdoor in the third quarter worth about $40,000. Inspire Investing LLC acquired a new stake in shares of Clear Channel Outdoor in the 3rd quarter valued at approximately $410,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Clear Channel Outdoor during the 2nd quarter valued at approximately $55,000. Institutional investors and hedge funds 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.