Clear Channel Outdoor (NYSE:CCO) Announces Earnings Results, Beats Estimates By $0.01 EPS

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

Clear Channel Outdoor Stock Performance

Shares of Clear Channel Outdoor stock traded down $0.01 during trading hours on Thursday, hitting $2.40. The company’s stock had a trading volume of 2,055,360 shares, compared to its average volume of 5,919,425. Clear Channel Outdoor has a 12-month low of $0.81 and a 12-month high of $2.43. The business has a 50 day moving average price of $2.19 and a two-hundred day moving average price of $1.81. The company has a market cap of $1.19 billion, a PE ratio of -239.50 and a beta of 2.31.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CCO. Ieq Capital LLC grew its holdings in Clear Channel Outdoor by 8.3% during the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock valued at $130,000 after buying an additional 4,493 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Clear Channel Outdoor by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 8,976 shares in the last quarter. Captrust Financial Advisors bought a new stake in Clear Channel Outdoor in the fourth quarter worth $27,000. EntryPoint Capital LLC purchased a new stake in Clear Channel Outdoor during the fourth quarter valued at $28,000. Finally, State Street Corp lifted its position in Clear Channel Outdoor by 0.6% during the fourth quarter. State Street Corp now owns 2,454,158 shares of the business services provider’s stock valued at $5,424,000 after purchasing an additional 13,630 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Analysts Set New Price Targets

CCO has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 12th. Zacks Research lowered Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 29th. Morgan Stanley set a $2.00 target price on shares of Clear Channel Outdoor in a research note on Monday, November 10th. Finally, TD Cowen set a $2.50 price target on shares of Clear Channel Outdoor in a research report on Tuesday, February 10th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $2.22.

Clear Channel Outdoor Company Profile

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.