Clear Channel Outdoor Holdings Inc
) hit a 52-week high of $10.54 during yesterday's trading
session. However, the stock closed the session at $8.45, which
reflects a solid year-to-date return of 59.6%. The average
trading volume of the stock aggregated 125,218 shares.
Despite its strong price appreciation, this Zacks Rank #3
(Hold) stock still has enough fundamentals that may further drive
the stock upward. Investors remain upbeat as the company
continues to bring new advertising opportunities to the market
and aims to expand its business relationships with new
Focused expansion into emerging markets, new business
relationships with advertisers and financial flexibility are the
primary driving factors for Clear Channel.
Clear Channel is one of the largest outdoor advertising
companies in the world with displays spread across 40 countries
worldwide. The company aims to use innovative advertising
concepts to expand its reach to consumers.
In addition, Clear Channel is concentrating on strengthening
its business and expanding its client base globally and has
already started to invest in and grow national and local sales
platforms in radio. There is incredible innovation in the
out-of-home advertising sector to reach mobile consumers. At the
same time the company is taking adequate steps for increased
Also, the company maintains a sound and flexible balance sheet
with ample liquidity that enables it to capitalize on potential
business deals to fuel its top-line growth.
Over the last 30 days, four out of five earnings estimates
were revised up for 2013, while none revised it downward. For
2014, earnings estimate revisions were fairly balanced with two
upward and two downward revisions.
Other Stocks to Consider
Clear Channel currently has a Zacks Rank #3 (Hold). Other
stocks worth considering in the industry include
) holding a Zacks Rank #1 (Strong Buy), and
), holding a Zacks Rank #2 (Buy).
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