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

Clear Channel Outdoor (NYSE:CCO - Free Report) had its target price cut by TD Cowen from $2.60 to $2.40 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the business services provider's stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company lowered 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 note on Thursday, September 19th. Barrington Research reissued an "outperform" rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Thursday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $2.16.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO remained flat at $1.47 during midday trading on Friday. The company had a trading volume of 2,537,347 shares, compared to its average volume of 1,958,770. Clear Channel Outdoor has a twelve month low of $1.04 and a twelve month high of $2.06. The firm has a market capitalization of $716.31 million, a PE ratio of -1.90 and a beta of 3.07. The company's fifty day moving average is $1.56 and its 200 day moving average is $1.52.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, analysts expect that Clear Channel Outdoor will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Ground Swell Capital LLC acquired a new stake in shares of Clear Channel Outdoor in the 3rd quarter valued at $34,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Clear Channel Outdoor in the third quarter valued at about $34,000. Stratos Wealth Advisors LLC bought a new position in Clear Channel Outdoor in the third quarter valued at about $40,000. Point72 DIFC Ltd acquired a new position in Clear Channel Outdoor during the second quarter worth about $55,000. Finally, XTX Topco Ltd lifted its holdings in shares of Clear Channel Outdoor by 28.4% in the second quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider's stock worth $114,000 after acquiring an additional 17,957 shares during the last quarter. 85.52% of the stock is owned by institutional investors.

About Clear Channel Outdoor

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.