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In a report released today, James Goss from Barrington maintained a Hold rating on Clear Channel Outdoor (CCO). The company’s shares opened today at $5.27.
Goss commented:
“We maintain our MARKET PERFORM rating: The performance of the stock remains significantly influenced by structural and financial issues, including the sale of properties. Following many years of uncertainty, there appears to be an increasing opportunity that a resolution could be developed that would eventually result in separate, publicly-traded entities in the outdoor and radio broadcasting industries, with lHeart expected to exit bankruptcy in the first quarter of 2019. This development could be a major plus for CCO. Holdings, Inc. is an outdoor advertising company, which engages in the provision of advertising opportunities through billboards, street furniture displays, transit displays, and other out-of-home advertising displays. It operates its business through the Outdoor segment.”
According to TipRanks.com, Goss is a 5-star analyst with an average return of 13.6% and a 70.1% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, iPic Entertainment Inc, and Sirius XM Holdings Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Clear Channel Outdoor.
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Based on Clear Channel Outdoor’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $65.09 million. In comparison, last year the company had a GAAP net loss of $61.64 million.
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Clear Channel Outdoor Holdings, Inc. is an outdoor advertising company, which engages in the provision of advertising opportunities through billboards, street furniture displays, transit displays, and other out-of-home advertising displays. It operates its business through the Americas and International Outdoor segment.
