Equities Analysts Offer Predictions for CCO FY2024 Earnings

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Equities research analysts at Barrington Research decreased their FY2024 earnings per share (EPS) estimates for shares of Clear Channel Outdoor in a note issued to investors on Monday, November 4th. Barrington Research analyst J. Goss now expects that the business services provider will earn ($0.29) per share for the year, down from their previous forecast of ($0.25). 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 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.

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

Clear Channel Outdoor Stock Performance

Shares of CCO stock opened at $1.64 on Thursday. The firm has a fifty day moving average of $1.56 and a 200-day moving average of $1.52. The stock has a market cap of $799.43 million, a price-to-earnings ratio of -5.64 and a beta of 3.08. Clear Channel Outdoor has a 52-week low of $1.10 and a 52-week high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Wednesday, August 7th. The business services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $558.54 million during the quarter, compared to analyst estimates of $563.75 million.

Institutional Trading of Clear Channel Outdoor

Hedge funds and other institutional investors have recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. acquired a new position in Clear Channel Outdoor during the 3rd quarter worth about $34,000. Ground Swell Capital LLC bought a new stake in shares of Clear Channel Outdoor during the third quarter valued at approximately $34,000. Stratos Wealth Advisors LLC acquired a new stake in shares of Clear Channel Outdoor in the third quarter valued at approximately $40,000. Point72 DIFC Ltd acquired a new stake in shares of Clear Channel Outdoor in the second quarter valued at approximately $55,000. Finally, XTX Topco Ltd raised its position in Clear Channel Outdoor by 28.4% in the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock worth $114,000 after purchasing an additional 17,957 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno bought 250,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the purchase, the insider now owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.20% 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.