Clear Channel Outdoor (CCO) to Release Earnings on Thursday

Clear Channel Outdoor (NYSE:CCO) is scheduled to be announcing its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of ($0.07) per share for the quarter. Clear Channel Outdoor has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results 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 firm had revenue of $558.54 million for the quarter, compared to analyst estimates of $563.75 million. On average, analysts expect Clear Channel Outdoor to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO opened at $1.59 on Thursday. Clear Channel Outdoor has a 52 week low of $1.04 and a 52 week high of $2.06. The company has a market cap of $777.04 million, a PE ratio of -2.06 and a beta of 3.07. The firm has a 50 day simple moving average of $1.55 and a 200 day simple moving average of $1.52.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company cut Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $2.75 to $1.75 in a research report on Thursday, September 19th. Barrington Research reaffirmed an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday, August 12th.

Insider Activity

In other news, major shareholder Pacific Investment Management sold 46,959 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total value of $79,360.71. Following the transaction, the insider now directly owns 104,812,998 shares of the company’s stock, valued at approximately $177,133,966.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.53% of the stock is currently owned by corporate insiders.

About Clear Channel Outdoor

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.