Clear Channel Outdoor (CCO) is expected to release quarterly results on Tuesday


Clear Channel Outdoor (NYSE:CCO – Get Rating) will release its earnings data ahead of market open on Tuesday, August 9. Analysts expect Clear Channel Outdoor to post earnings of ($0.03) per share for the quarter. Clear Channel Outdoor has set its guidance for the second quarter of 2022 to EPS. Those interested in participating in the company’s earnings conference call can do so using this link.

Clear Channel Outdoor (NYSE:CCO – Get Rating) last released its quarterly results on Tuesday, May 10. The business services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). The company posted revenue of $525.69 million in the quarter, versus a consensus estimate of $536.95 million. During the same period last year, the company achieved EPS of ($0.42). On average, analysts expect Clear Channel Outdoor to post EPS of $0 for the current fiscal year and EPS of $0 for the next fiscal year.

Clear Channel Outdoor Pricing Effectiveness

CCO opened at $1.45 on Tuesday. The stock has a market capitalization of $689.17 million, a price-earnings ratio of -3.45 and a beta of 2.62. The company has a 50-day moving average of $1.30 and a 200-day moving average of $2.48. Clear Channel Outdoor has a 12-month low of $0.91 and a 12-month high of $4.10.

Analyst upgrades and downgrades

Several stock analysts have weighed in on the company recently. Barrington Research cut its price target on Clear Channel Outdoor from $5.00 to $3.25 in a Friday, May 13 research note. Citigroup cut its price target on Clear Channel Outdoor from $1.65 to $1.25 and set a “neutral” rating on the stock in a Thursday, July 7 research note. Wells Fargo & Company downgraded Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced its price target for the company from $4.00 to $1.50 in a Friday research note July 8. Finally, Morgan Stanley cut its price target on Clear Channel Outdoor from $2.50 to $2.15 and set an “equal weight” rating on the stock in a Friday, June 10 research report. Six analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, Clear Channel Outdoor has an average rating of “Hold” and an average price target of $2.13.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 561,112 shares of the company in a deal that took place on Tuesday, May 31. The stock was sold at an average price of $1.58, for a total value of $886,556.96. Following the transaction, the insider now directly owns 104,872,541 shares of the company, valued at approximately $165,698,614.78. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. 1.90% of the shares are currently held by insiders.

Institutional investors weigh in on Clear Channel Outdoor

A number of institutional investors have recently changed their positions in the company. Mackenzie Financial Corp increased its holdings of Clear Channel Outdoor shares by 15.2% in Q1. Mackenzie Financial Corp now owns 41,024 shares of the business services provider valued at $142,000 after acquiring an additional 5,400 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Clear Channel Outdoor during Q1 worth $35,000. Prudential Financial Inc. increased its stake in Clear Channel Outdoor by 12.6% during the 1st quarter. Prudential Financial Inc. now owns 90,083 shares of the business services provider worth $312,000 after buying an additional 10,053 shares in the last quarter. Covestor Ltd increased its stake in Clear Channel Outdoor by 12,212.4% during the 1st quarter. Covestor Ltd now owns 20,931 shares of the business services provider worth $72,000 after buying a further 20,761 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Clear Channel Outdoor by 90.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,500 shares of the business services provider worth $164,000 after buying an additional 22,500 shares in the last quarter. 92.20% of the shares are currently held by institutional investors.

Clear Channel Outdoor Company Profile

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Clear Channel Outdoor Holdings, Inc. owns, operates and sells display advertising in the United States and around the world. It operates through two segments, the Americas and Europe. The company offers advertising services through billboards, including newsletters and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units and other public structures; Spectaculars, which are custom display structures that incorporate video, multi-dimensional letters and numbers, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or hangs from the sides of buildings or other structures.

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Earnings history for Clear Channel Outdoor (NYSE: CCO)



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