Barrington Research Forecasts CCO FY2024 Earnings

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Investment analysts at Barrington Research reduced 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 anticipates that the business services provider will post earnings of ($0.29) per share for the year, down from their prior 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.

A number of other analysts have also commented on the stock. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $2.75 to $1.75 in a report on Thursday, September 19th. TD Cowen decreased their price objective on 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.16.

Clear Channel Outdoor Price Performance

CCO opened at $1.60 on Thursday. The firm has a 50 day simple moving average of $1.57 and a 200 day simple moving average of $1.52. Clear Channel Outdoor has a fifty-two week low of $1.11 and a fifty-two week high of $2.06. The company has a market cap of $782.32 million, a price-to-earnings ratio of -5.52 and a beta of 3.08.

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

Institutional Inflows and Outflows

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

Insiders Place Their Bets

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 250,000 shares of Clear Channel Outdoor stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the acquisition, the insider now owns 52,182,534 shares in the company, valued at approximately $75,664,674.30. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.