CLEAR CHANNEL O/SH (NYSE:CCO) PT Lowered to $14.00 at Royal Bank of Canada

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CLEAR CHANNEL O/SH (NYSE:CCO) had its price target cut by Royal Bank of Canada from $15.00 to $14.00 in a research note released on Thursday morning, Stock Target Advisor reports. They currently have a sector perform rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of CLEAR CHANNEL O/SH from a hold rating to a buy rating in a report on Friday, May 1st. CIBC upgraded shares of CLEAR CHANNEL O/SH to an outperformer rating and lifted their price objective for the company from $12.00 to $14.00 in a research note on Wednesday, April 1st. Citigroup upgraded shares of CLEAR CHANNEL O/SH from a neutral rating to a buy rating and lifted their price objective for the company from $0.90 to $1.60 in a research note on Wednesday, June 24th. Zacks Investment Research upgraded shares of CLEAR CHANNEL O/SH from a sell rating to a hold rating in a research note on Thursday, May 28th. Finally, Barrington Research restated a hold rating on shares of CLEAR CHANNEL O/SH in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CLEAR CHANNEL O/SH currently has a consensus rating of Hold and a consensus price target of $5.16.

Shares of CCO opened at $0.92 on Thursday. CLEAR CHANNEL O/SH has a 1 year low of $0.36 and a 1 year high of $3.31. The company has a market cap of $428.28 million, a price-to-earnings ratio of -0.89 and a beta of 2.10. The firm has a fifty day moving average of $1.04 and a 200-day moving average of $1.41.

CLEAR CHANNEL O/SH (NYSE:CCO) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.12). The firm had revenue of $550.81 million for the quarter, compared to the consensus estimate of $522.10 million. On average, equities analysts expect that CLEAR CHANNEL O/SH will post -1.19 EPS for the current fiscal year.

In other CLEAR CHANNEL O/SH news, major shareholder Pacific Investment Management sold 124,578 shares of the business’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $0.93, for a total value of $115,857.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Eidelman Virant Capital bought a new stake in CLEAR CHANNEL O/SH in the second quarter worth about $31,000. Two Sigma Advisers LP increased its stake in CLEAR CHANNEL O/SH by 101.5% in the 1st quarter. Two Sigma Advisers LP now owns 68,900 shares of the business services provider’s stock worth $44,000 after purchasing an additional 34,700 shares in the last quarter. First Trust Advisors LP purchased a new position in CLEAR CHANNEL O/SH in the 1st quarter worth about $53,000. Arizona State Retirement System purchased a new position in CLEAR CHANNEL O/SH in the 1st quarter worth about $56,000. Finally, Raymond James & Associates purchased a new position in CLEAR CHANNEL O/SH in the 4th quarter worth about $68,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

CLEAR CHANNEL O/SH Company Profile

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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Analyst Recommendations for CLEAR CHANNEL O/SH (NYSE:CCO)

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