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

Clear Channel Outdoor (NYSE:CCO) released its quarterly earnings data on Wednesday. The business services provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), FiscalAI reports. The company had revenue of $373.86 million for the quarter, compared to analyst estimates of $348.71 million.

Clear Channel Outdoor Stock Down 0.2%

NYSE:CCO traded down $0.01 during midday trading on Friday, hitting $2.39. The company had a trading volume of 4,508,468 shares, compared to its average volume of 6,687,501. Clear Channel Outdoor has a 52-week low of $1.00 and a 52-week high of $2.43. The stock’s fifty day moving average price is $2.38 and its 200-day moving average price is $2.17. The company has a market capitalization of $1.19 billion, a PE ratio of -13.25 and a beta of 1.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors purchased a new position in Clear Channel Outdoor in the fourth quarter worth $27,000. EntryPoint Capital LLC purchased a new position in Clear Channel Outdoor in the fourth quarter worth $28,000. Sargent Investment Group LLC purchased a new position in Clear Channel Outdoor in the fourth quarter worth $33,000. Zacks Investment Management purchased a new position in Clear Channel Outdoor in the third quarter worth $36,000. Finally, Amundi purchased a new position in Clear Channel Outdoor in the fourth quarter worth $36,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCO has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Friday, March 27th. Wells Fargo & Company lifted their price objective on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Finally, TD Cowen reiterated a “hold” rating and issued a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $2.29.

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.