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

Clear Channel Outdoor (NYSE:CCO) will announce its earnings results before the market opens on Wednesday, August 7th. Analysts expect the company to announce 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.Investors that wish to register for the company’s conference call can do so using this link.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly 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 business had revenue of $481.75 million during the quarter, compared to analyst estimates of $480.69 million. During the same period last year, the firm posted ($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 Performance

NYSE CCO opened at $1.40 on Tuesday. Clear Channel Outdoor has a one year low of $1.04 and a one year high of $2.06. The company has a 50-day simple moving average of $1.51 and a 200-day simple moving average of $1.59. The firm has a market capitalization of $681.75 million, a PE ratio of -1.81 and a beta of 3.09.

Insider Activity at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 46,959 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total value of $79,360.71. Following the completion of the sale, the insider now directly owns 104,812,998 shares of the company’s stock, valued at $177,133,966.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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