Clear Channel Outdoor (CCO) to Release Earnings on Thursday

Clear Channel Outdoor (NYSE:CCO - Get Free Report) is set to issue its quarterly earnings data 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.Persons that are interested in registering for the company's conference call can do so using this link.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $558.54 million during 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 Trading Up 1.6 %

CCO traded up $0.02 during trading hours on Thursday, hitting $1.62. The company's stock had a trading volume of 692,890 shares, compared to its average volume of 1,972,737. The company has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.52. The firm has a market capitalization of $789.26 million, a PE ratio of -2.10 and a beta of 3.07. Clear Channel Outdoor has a fifty-two week low of $1.04 and a fifty-two week high of $2.06.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CCO shares. Barrington Research restated an "outperform" rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Monday, August 12th. Wells Fargo & Company cut shares of Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $2.75 to $1.75 in a research note on Thursday, September 19th.

Insider Activity

In related news, major shareholder Pacific Investment Management sold 46,959 shares of the firm's stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total transaction of $79,360.71. Following the completion of the transaction, the insider now owns 104,812,998 shares of the company's stock, valued at $177,133,966.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.53% of the stock is owned by 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.