Equities Analysts Issue Forecasts for CCO FY2024 Earnings

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Investment analysts at Barrington Research cut their FY2024 earnings per share (EPS) estimates for Clear Channel Outdoor in a research note issued on Monday, November 4th. Barrington Research analyst J. Goss now expects that the business services provider will earn ($0.29) per share for the year, down from their previous forecast of ($0.25). Barrington Research currently has a “Outperform” rating and a $2.50 target price on the stock. The consensus estimate for Clear Channel Outdoor’s current full-year earnings is ($0.29) per share. Barrington Research also issued estimates for Clear Channel Outdoor’s Q1 2025 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.11) EPS and FY2026 earnings at ($0.07) EPS.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $558.54 million for the quarter, compared to analysts’ expectations of $563.75 million.

CCO has been the subject of several other research reports. TD Cowen reduced their price objective on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company cut Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $2.75 to $1.75 in a research report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.16.

Clear Channel Outdoor Stock Down 0.9 %

CCO stock opened at $1.59 on Thursday. Clear Channel Outdoor has a 12-month low of $1.25 and a 12-month high of $2.06. The company has a market cap of $775.19 million, a price-to-earnings ratio of -5.47 and a beta of 3.08. The company has a 50 day moving average of $1.57 and a two-hundred day moving average of $1.52.

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 250,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the purchase, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clear Channel Outdoor

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Clear Channel Outdoor by 63.3% during the 1st quarter. BNP Paribas Financial Markets now owns 212,246 shares of the business services provider’s stock worth $350,000 after acquiring an additional 82,286 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Clear Channel Outdoor by 8.6% in the first quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider’s stock valued at $479,000 after buying an additional 23,067 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Clear Channel Outdoor by 21.7% in the first quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider’s stock valued at $5,658,000 after buying an additional 610,500 shares during the last quarter. Gabelli Funds LLC lifted its position in Clear Channel Outdoor by 6.6% during the 1st quarter. Gabelli Funds LLC now owns 2,275,000 shares of the business services provider’s stock worth $3,754,000 after buying an additional 140,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Clear Channel Outdoor by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock worth $534,000 after acquiring an additional 17,901 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.