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

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

Clear Channel Outdoor Stock Down 0.8%

Shares of NYSE CCO opened at $2.38 on Friday. The firm has a 50-day simple moving average of $2.20 and a 200-day simple moving average of $1.82. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -238.00 and a beta of 2.31. Clear Channel Outdoor has a 52 week low of $0.81 and a 52 week high of $2.43.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CCO shares. Wells Fargo & Company upped their target price on Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 12th. Morgan Stanley set a $2.00 price objective on shares of Clear Channel Outdoor in a research report on Monday, November 10th. Wall Street Zen downgraded 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 shares of Clear Channel Outdoor in a research note on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $2.22.

Institutional Trading of Clear Channel Outdoor

A number of hedge funds have recently bought and sold shares of CCO. Ieq Capital LLC lifted its stake in Clear Channel Outdoor by 8.3% in the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock worth $130,000 after purchasing an additional 4,493 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 during the last quarter. Captrust Financial Advisors purchased a new position in Clear Channel Outdoor during the fourth quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new position in Clear Channel Outdoor during the fourth quarter worth approximately $28,000. Finally, State Street Corp boosted its stake 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 worth $5,424,000 after buying an additional 13,630 shares during the last quarter. Institutional investors and hedge funds 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.