Wedbush Downgrades Clear Channel (CCO) to Neutral After Jump On Levered Dividend Announcement
Get Alerts CCO Hot Sheet
Price: $1.44 +0.70%
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Join SI Premium – FREE
Wedbush downgraded Clear Channel (NYSE: CCO) from Outperform to Neutral with a price target of $12.50.
The firm cited the 11% surge in the share price after the company announced it would issue $1.25bn in debt to finance a one-time dividend. The firm estimates the dividend could be ~$3.50 per share.
For an analyst ratings summary and ratings history on Clear Channel click here. For more ratings news on Clear Channel click here.
Shares of Clear Channel closed at $13.23 yesterday.
The firm cited the 11% surge in the share price after the company announced it would issue $1.25bn in debt to finance a one-time dividend. The firm estimates the dividend could be ~$3.50 per share.
For an analyst ratings summary and ratings history on Clear Channel click here. For more ratings news on Clear Channel click here.
Shares of Clear Channel closed at $13.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- KB Home (KBH) Announces $1B Share Buyback, Raises Dividend
- IDACORP (IDA) Declares $0.83 Quarterly Dividend; 3.6% Yield
- South Plains Financial Inc. (SPFI) Raises Quarterly Dividend 7.7% to $0.14; 2.2% Yield
Create E-mail Alert Related Categories
Dividends, DowngradesRelated Entities
DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!