Clear Channel Outdoor (CCO) to Release Quarterly Earnings on Wednesday

Clear Channel Outdoor (NYSE:CCO) is scheduled to be releasing its earnings data before the market opens on Wednesday, August 7th. Analysts expect Clear Channel Outdoor to post earnings of ($0.05) per share for the quarter. Clear Channel Outdoor has set its FY 2024 guidance at EPS and its Q2 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Thursday, May 9th. The business services provider reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $481.75 million during the quarter, compared to the consensus estimate of $480.69 million. During the same period in the prior year, the business earned ($0.23) earnings per share. On average, analysts expect Clear Channel Outdoor to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Clear Channel Outdoor Stock Down 3.8 %

CCO stock opened at $1.40 on Tuesday. The firm has a market cap of $681.75 million, a P/E ratio of -1.81 and a beta of 3.09. The company’s 50-day moving average price is $1.51 and its two-hundred day moving average price is $1.59. Clear Channel Outdoor has a 12 month low of $1.04 and a 12 month high of $2.06.

Insider Transactions at Clear Channel Outdoor

In related news, major shareholder Pacific Investment Management sold 46,959 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total transaction of $79,360.71. Following the transaction, the insider now owns 104,812,998 shares in the company, valued at approximately $177,133,966.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.53% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.16.

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.