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

Clear Channel Outdoor (NYSE:CCO) announced its earnings results on Tuesday. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), FiscalAI reports. The firm had revenue of $373.86 million during the quarter, compared to analysts’ expectations of $348.71 million.

Clear Channel Outdoor Price Performance

NYSE CCO traded down $0.01 during mid-day trading on Wednesday, hitting $2.39. The stock had a trading volume of 5,814,716 shares, compared to its average volume of 6,744,748. Clear Channel Outdoor has a twelve month low of $1.00 and a twelve month high of $2.43. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 47.71 and a beta of 1.99. The firm’s 50 day moving average is $2.38 and its 200 day moving average is $2.16.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors acquired a new stake in Clear Channel Outdoor in the 4th quarter valued at about $27,000. EntryPoint Capital LLC acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth approximately $28,000. Sargent Investment Group LLC purchased a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at approximately $33,000. Zacks Investment Management acquired a new stake in shares of Clear Channel Outdoor in the third quarter valued at approximately $36,000. Finally, Amundi purchased a new position in Clear Channel Outdoor during the fourth quarter worth approximately $36,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CCO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Friday, March 27th. Wells Fargo & Company boosted their target price on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Finally, TD Cowen restated a “hold” rating and set a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target 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.