Clear Channel Outdoor (NYSE:CCO) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.08 and traded as high as $2.40. Clear Channel Outdoor shares last traded at $2.3950, with a volume of 4,964,509 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCO. TD Cowen reissued a “hold” rating and issued a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Wells Fargo & Company increased their price target on Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Friday, March 27th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Trading Up 0.2%

The stock has a 50 day moving average price of $2.38 and a two-hundred day moving average price of $2.09. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 47.91 and a beta of 2.26.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $461.52 million during the quarter, compared to analyst estimates of $449.10 million.

Institutional Trading of Clear Channel Outdoor

Hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new stake in Clear Channel Outdoor during the 4th quarter worth $27,000. EntryPoint Capital LLC acquired a new stake in Clear Channel Outdoor during the 4th quarter worth $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Clear Channel Outdoor during the 4th quarter worth $31,000. Sargent Investment Group LLC acquired a new stake in Clear Channel Outdoor during the 4th quarter worth $33,000. Finally, Sanders Morris Harris LLC acquired a new stake in Clear Channel Outdoor during the 3rd quarter worth $25,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.