CCO FY2024 EPS Estimate Decreased by Barrington Research

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) - Equities researchers at Barrington Research dropped their FY2024 earnings per share (EPS) estimates for shares of Clear Channel Outdoor in a research report issued to clients and investors on Monday, November 4th. Barrington Research analyst J. Goss now forecasts that the business services provider will post earnings per share of ($0.29) 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.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last posted 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 analysts' expectations of $563.75 million.

A number of other equities research analysts have also recently issued reports on CCO. Wells Fargo & Company cut shares of Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $2.75 to $1.75 in a report on Thursday, September 19th. TD Cowen decreased their price target 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $2.16.

Clear Channel Outdoor Stock Performance

Shares of CCO traded down $0.03 during mid-day trading on Thursday, hitting $1.60. 1,755,238 shares of the company's stock were exchanged, compared to its average volume of 1,978,144. The firm has a fifty day moving average of $1.56 and a two-hundred day moving average of $1.52. Clear Channel Outdoor has a twelve month low of $1.11 and a twelve month high of $2.06.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 250,000 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $1.45 per share, with a total value of $362,500.00. Following the transaction, the insider now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Gamco Investors INC. ET AL increased its stake in Clear Channel Outdoor by 21.7% during 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 acquiring an additional 610,500 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Clear Channel Outdoor during the second quarter valued at approximately $1,114,000. Gabelli Funds LLC raised its stake in shares of Clear Channel Outdoor by 25.9% in the second quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider's stock valued at $4,040,000 after purchasing an additional 590,000 shares in the last quarter. Millennium Management LLC lifted its position in Clear Channel Outdoor by 44.0% in the second quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider's stock worth $10,339,000 after purchasing an additional 2,242,205 shares during the period. Finally, Whitebox Advisors LLC acquired a new stake in Clear Channel Outdoor during the second quarter worth $2,287,000. Institutional investors and hedge funds 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.