Q4 EPS Estimate for Clear Channel Outdoor Reduced by Analyst

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Research analysts at Barrington Research dropped their Q4 2024 earnings per share (EPS) estimates for Clear Channel Outdoor in a research report issued on Friday, January 24th. Barrington Research analyst P. Sholl now expects that the business services provider will post earnings per share of $0.01 for the quarter, down from their prior forecast of $0.04. 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 ($0.30) per share.

Separately, TD Cowen dropped their price objective on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have given 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 Price Performance

Clear Channel Outdoor stock opened at $1.43 on Monday. The stock has a market cap of $696.94 million, a price-to-earnings ratio of -4.91 and a beta of 3.04. The firm has a 50-day moving average of $1.47 and a two-hundred day moving average of $1.53. Clear Channel Outdoor has a 1 year low of $1.29 and a 1 year high of $2.06.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its position in shares of Clear Channel Outdoor by 28.4% during the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock worth $114,000 after acquiring an additional 17,957 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Clear Channel Outdoor in the 3rd quarter valued at approximately $32,000. Ground Swell Capital LLC purchased a new position in Clear Channel Outdoor in the third quarter valued at about $34,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Clear Channel Outdoor in the third quarter valued at $34,000. Finally, Stratos Wealth Advisors LLC acquired a new position in Clear Channel Outdoor during the third quarter worth about $40,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 250,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the transaction, the insider now owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. The trade was a 0.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.53% of the stock is owned by company insiders.

Clear Channel Outdoor Company Profile

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.