Clear Channel Outdoor (CCO) in Focus: Stock Up 5.6% in Session

Clear Channel Outdoor Holdings Inc. CCO was a big mover last session, as the company saw its shares rise around 6% on the day. Shares gained on talks of a possible purchase of the company's billboard assets in five U.S. cities by Lamar Advertising Co. LAMR. The news led to far more shares changing hands than in a normal session resulting in solid volume. This continues the recent uptrend for the company as the stock is now up 22.2% in the past one-month time frame.

None of the estimates for this advertising stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Clear Channel Outdoor currently carries a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.

Is CCO going up? Or down? Predict to see what others think: Up or Down

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
LAMAR ADVER CO LAMR: Free Stock Analysis Report
 
CLEAR CHANL OUT CCO: Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research