Clear Channel Outdoor (NYSE:CCO) Announces Quarterly Earnings Results

Clear Channel Outdoor (NYSE:CCO) issued its quarterly earnings data on Thursday. The business services provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01, FiscalAI reports. The business had revenue of $461.52 million during the quarter, compared to the consensus estimate of $449.10 million.

Clear Channel Outdoor Trading Down 0.8%

NYSE:CCO traded down $0.02 during trading hours on Thursday, reaching $2.38. 4,529,731 shares of the company traded hands, compared to its average volume of 5,987,540. The business’s 50-day moving average price is $2.19 and its two-hundred day moving average price is $1.81. Clear Channel Outdoor has a 1 year low of $0.81 and a 1 year high of $2.43. The stock has a market capitalization of $1.18 billion, a P/E ratio of -238.00 and a beta of 2.31.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CCO. Citigroup boosted their price objective on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Wells Fargo & Company boosted their price target on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 12th. Wall Street Zen lowered shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. TD Cowen set a $2.50 target price on Clear Channel Outdoor in a report on Tuesday, February 10th. Finally, Zacks Research cut Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.22.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors bought a new stake in Clear Channel Outdoor during the 4th quarter valued at about $27,000. EntryPoint Capital LLC purchased a new stake in shares of Clear Channel Outdoor during the fourth quarter valued at approximately $28,000. Sargent Investment Group LLC bought a new stake in shares of Clear Channel Outdoor during the fourth quarter valued at approximately $33,000. Zacks Investment Management purchased a new position in Clear Channel Outdoor in the 3rd quarter worth approximately $36,000. Finally, Amundi bought a new position in Clear Channel Outdoor in the 4th quarter valued at approximately $36,000. Institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.