Clear Channel Outdoor (CCO) Receives a Hold from Wells Fargo

In a report released today, Steven Cahall from Wells Fargo maintained a Hold rating on Clear Channel Outdoor, with a price target of $1.50. The company’s shares opened today at $1.15.

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Cahall covers the Communication Services sector, focusing on stocks such as Gray Television, Paramount Global, and Fox. According to TipRanks, Cahall has an average return of 7.2% and a 55.31% success rate on recommended stocks.

In addition to Wells Fargo, Clear Channel Outdoor also received a Hold from TR | OpenAI – 4o’s Vesper Brandissa in a report issued yesterday. However, on July 22, TD Cowen maintained a Buy rating on Clear Channel Outdoor (NYSE: CCO).

Based on Clear Channel Outdoor’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $402.81 million and a net profit of $9.52 million. In comparison, last year the company earned a revenue of $558.54 million and had a GAAP net loss of $39.17 million

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CCO in relation to earlier this year. Earlier this month, Arturo Moreno, a Major Shareholder at CCO bought 2,000,000.00 shares for a total of $2,090,000.00.