Q4 EPS Estimate for Clear Channel Outdoor Lowered by Analyst

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Research analysts at Barrington Research decreased their Q4 2024 earnings per share estimates for Clear Channel Outdoor in a note issued to investors on Friday, January 24th. Barrington Research analyst P. Sholl now expects that the business services provider will earn $0.01 per share for the quarter, down from their previous estimate of $0.04. 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 ($0.30) per share.

Separately, TD Cowen decreased their price objective 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.16.

Clear Channel Outdoor Stock Up 1.1 %

NYSE:CCO opened at $1.44 on Monday. The firm’s fifty day simple moving average is $1.48 and its 200-day simple moving average is $1.53. The stock has a market cap of $701.83 million, a PE ratio of -4.95 and a beta of 3.04. Clear Channel Outdoor has a fifty-two week low of $1.29 and a fifty-two week high of $2.06.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCO. Crewe Advisors LLC acquired a new stake in Clear Channel Outdoor during the 3rd quarter valued at $32,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Clear Channel Outdoor during the third quarter valued at $34,000. Ground Swell Capital LLC purchased a new stake in Clear Channel Outdoor during the 3rd quarter worth about $34,000. Stratos Wealth Advisors LLC acquired a new position in Clear Channel Outdoor in the 3rd quarter valued at about $40,000. Finally, Point72 DIFC Ltd purchased a new position in Clear Channel Outdoor in the 2nd quarter valued at about $55,000. 85.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno purchased 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 acquisition, the insider now directly owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. This trade represents a 0.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.53% of the stock is owned by corporate insiders.

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.