Q4 EPS Estimate for Clear Channel Outdoor Cut by Analyst

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Equities researchers at Barrington Research lowered their Q4 2024 earnings estimates for shares of 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 earn $0.04 per share for the quarter, down from their prior forecast of $0.07. Barrington Research has a “Outperform” rating and a $2.50 price objective 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.

Other research analysts have also recently issued reports about the stock. TD Cowen dropped their target price on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company cut shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $2.75 to $1.75 in a research report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Clear Channel Outdoor currently has an average rating of “Hold” and an average price target of $2.16.

Clear Channel Outdoor Trading Up 12.0 %

Shares of Clear Channel Outdoor stock opened at $1.64 on Wednesday. The firm 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 12 month low of $1.10 and a 12 month high of $2.06. The stock’s fifty day moving average price is $1.56 and its 200-day moving average price is $1.52.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $563.75 million.

Insider Activity

In other news, major shareholder Arturo R. Moreno purchased 250,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $1.45 per share, with a total value of $362,500.00. Following the completion of the acquisition, the insider now owns 52,182,534 shares of the company’s stock, valued at $75,664,674.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Several institutional investors have recently added to or reduced their stakes in CCO. BNP Paribas Financial Markets raised its holdings in shares of Clear Channel Outdoor by 63.3% in the first quarter. BNP Paribas Financial Markets now owns 212,246 shares of the business services provider’s stock worth $350,000 after buying an additional 82,286 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Clear Channel Outdoor by 8.6% in 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. Gamco Investors INC. ET AL lifted its position in Clear Channel Outdoor by 21.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider’s stock worth $5,658,000 after acquiring an additional 610,500 shares during the period. Gabelli Funds LLC grew its stake in Clear Channel Outdoor by 6.6% during the 1st quarter. Gabelli Funds LLC now owns 2,275,000 shares of the business services provider’s stock valued at $3,754,000 after purchasing an additional 140,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Clear Channel Outdoor by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock valued at $534,000 after purchasing an additional 17,901 shares during the period. Institutional investors and hedge funds own 85.52% of the company’s stock.

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.