Q4 EPS Forecast for Clear Channel Outdoor Reduced by Analyst

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Research analysts at Barrington Research lowered their Q4 2024 earnings per share (EPS) estimates for Clear Channel Outdoor in a research note issued to investors on Monday, November 4th. Barrington Research analyst J. Goss now expects that the business services provider will earn $0.04 per share for the quarter, down from their prior forecast of $0.07. 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 Q4 2025 earnings at $0.05 EPS.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Wednesday, August 7th. The business services provider reported ($0.06) EPS 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 analysts’ expectations of $563.75 million.

A number of other research analysts have also weighed in on CCO. TD Cowen cut their price objective on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company cut Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $2.75 to $1.75 in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Clear Channel Outdoor currently has an average rating of “Hold” and an average price target of $2.16.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO opened at $1.64 on Wednesday. The company has a market cap of $799.43 million, a P/E ratio of -5.00 and a beta of 3.08. Clear Channel Outdoor has a 52-week low of $1.10 and a 52-week high of $2.06. The firm’s fifty day moving average is $1.56 and its two-hundred day moving average is $1.52.

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. bought a new position in Clear Channel Outdoor during the 3rd quarter valued at about $34,000. Ground Swell Capital LLC purchased a new position in shares of Clear Channel Outdoor during the third quarter valued at approximately $34,000. Stratos Wealth Advisors LLC bought a new position in shares of Clear Channel Outdoor during the third quarter valued at approximately $40,000. Point72 DIFC Ltd purchased a new stake in shares of Clear Channel Outdoor in the second quarter worth approximately $55,000. Finally, XTX Topco Ltd lifted its stake in shares of Clear Channel Outdoor by 28.4% during the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock worth $114,000 after acquiring an additional 17,957 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Insider Activity

In related news, major shareholder Arturo R. Moreno acquired 250,000 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $1.45 per share, with a total value of $362,500.00. Following the purchase, the insider now directly owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.20% 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.