Barrington Research Brokers Cut Earnings Estimates for CCO

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) - Barrington Research dropped their Q4 2024 earnings per share (EPS) estimates for Clear Channel Outdoor in a research report issued to clients and investors on Monday, November 4th. Barrington Research analyst J. Goss now expects that the business services provider will post earnings per share of $0.04 for the quarter, down from their previous estimate of $0.07. Barrington Research currently has a "Outperform" rating and a $2.50 price target 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 - Get Free Report) last posted 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 business had revenue of $558.54 million for the quarter, compared to analysts' expectations of $563.75 million.

Several other analysts also recently weighed in on CCO. Wells Fargo & Company downgraded Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. TD Cowen decreased their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a "buy" rating on the stock in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Clear Channel Outdoor has a consensus rating of "Hold" and a consensus price target of $2.16.

Clear Channel Outdoor Price Performance

CCO traded up $0.18 on Wednesday, hitting $1.64. The company had a trading volume of 6,546,472 shares, compared to its average volume of 1,979,178. The company's fifty day moving average price is $1.56 and its 200 day moving average price is $1.52. Clear Channel Outdoor has a 1-year low of $1.10 and a 1-year high of $2.06. The stock has a market cap of $799.43 million, a price-to-earnings ratio of -5.00 and a beta of 3.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCO. Price T Rowe Associates Inc. MD grew its position in shares of Clear Channel Outdoor by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider's stock worth $534,000 after buying an additional 17,901 shares during the period. XTX Topco Ltd increased its holdings in 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. Ground Swell Capital LLC acquired a new position in Clear Channel Outdoor in the third quarter valued at about $34,000. CarsonAllaria Wealth Management Ltd. bought a new position in Clear Channel Outdoor during the third quarter worth about $34,000. Finally, Russell Investments Group Ltd. boosted its stake in Clear Channel Outdoor by 8.6% during the 1st quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider's stock worth $479,000 after acquiring an additional 23,067 shares during the last quarter. Institutional investors and hedge funds own 85.52% of the company's stock.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 250,000 shares of Clear Channel Outdoor stock in a transaction on Monday, November 4th. The shares were bought at an average price of $1.45 per share, with a total value of $362,500.00. Following the completion of the purchase, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through 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.