Barrington Research Lowers Earnings Forecast for Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) recently saw a change in its earnings outlook. Research analysts at Barrington Research revised down their earnings per share (EPS) estimates for the fourth quarter of 2024. According to the report released on November 4th, analyst J. Goss now projects that Clear Channel Outdoor will earn approximately $0.04 per share, a decrease from the previous estimate of $0.07.

Barrington Research maintains an "Outperform" rating on Clear Channel's stock, setting a price objective of $2.50. In addition, the consensus forecast for the company's full-year earnings currently stands at ($0.29) per share. Looking forward, Barrington Research anticipates earnings of $0.05 per share for the fourth quarter of 2025.

Other Analysts Weigh In

Clear Channel Outdoor's stock has also attracted attention from several other equity research analysts. For instance, Wells Fargo & Company recently downgraded the stock from an "overweight" rating to an "equal weight" rating, lowering their price target from $2.75 to $1.75 in a report dated September 19th.

TD Cowen adjusted their price target for Clear Channel from $2.60 to $2.40 while maintaining a "buy" rating as of November 1st. Analysts currently have mixed ratings for the stock, with three recommending a hold and two suggesting a buy. MarketBeat.com reports that the overall consensus rating is "Hold," with an average target price of $2.16.

Current Stock Performance

The shares of Clear Channel Outdoor opened at $1.60 on November 8th, reflecting a decline of 1.8%. The stock has experienced a 52-week low of $1.11 and a 52-week high of $2.06 during this period. The company has a market capitalization of approximately $782.52 million and a price-to-earnings ratio of -5.52, indicating its challenges in profitability.

On August 7th, Clear Channel Outdoor released its quarterly earnings report, revealing an EPS of ($0.06) for the quarter. This result was below analysts' expectations, which estimated a loss of ($0.04). Moreover, the company reported revenues of $558.54 million, falling short of the anticipated $563.75 million.

Insider Transactions

In recent insider news, major shareholder Arturo R. Moreno acquired 250,000 shares of Clear Channel Outdoor on November 4th for an average price of $1.45 per share, totaling $362,500. This recent buy increased his total ownership in the company to 52,182,534 shares, valued at approximately $75.66 million. Currently, insider ownership stands at 1.53% of the stock.

Institutional Ownership Trends

Institutional investors have been actively adjusting their positions in Clear Channel Outdoor. Price T. Rowe Associates raised their stake by 5.9% in the first quarter, now owning 322,600 shares valued at $534,000 after acquiring an additional 17,901 shares. XTX Topco Ltd increased its stake by 28.4% in the second quarter, now holding 81,188 shares worth $114,000.

New positions have also emerged; Ground Swell Capital LLC and CarsonAllaria Wealth Management Ltd. both purchased shares worth approximately $34,000 recently. Overall, institutional investors and hedge funds collectively own about 85.52% of Clear Channel Outdoor's stock.

Company Overview

Clear Channel Outdoor Holdings, Inc. is an out-of-home advertising company with operations in the United States and Europe. It delivers advertising services through various platforms, such as billboards, street furniture, transit displays, and airport advertising.

ClearChannel, Earnings, Forecast