CLEAR CHANNEL O/SH Expected to Earn Q2 2019 Earnings of ($0.03) Per Share (CCO)

CLEAR CHANNEL O/SH (NYSE:CCO) – Equities researchers at Barrington Research decreased their Q2 2019 EPS estimates for CLEAR CHANNEL O/SH in a research report issued to clients and investors on Monday, April 29th, according to Zacks Investment Research. Barrington Research analyst J. Goss now expects that the business services provider will earn ($0.03) per share for the quarter, down from their previous estimate of ($0.01). Barrington Research has a “Buy” rating and a $6.50 price target on the stock. Barrington Research also issued estimates for CLEAR CHANNEL O/SH’s Q3 2019 earnings at ($0.14) EPS, Q4 2019 earnings at $0.03 EPS, FY2019 earnings at ($0.60) EPS, Q1 2020 earnings at ($0.19) EPS, Q3 2020 earnings at ($0.10) EPS, FY2020 earnings at ($0.25) EPS, FY2021 earnings at ($0.20) EPS and FY2022 earnings at ($0.15) EPS.

CLEAR CHANNEL O/SH (NYSE:CCO) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.23). The company had revenue of $587.12 million for the quarter, compared to analysts’ expectations of $584.92 million.

Several other analysts have also weighed in on the stock. TheStreet lowered shares of CLEAR CHANNEL O/SH from a “c-” rating to a “d” rating in a report on Tuesday, May 7th. ValuEngine raised shares of CLEAR CHANNEL O/SH from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Zacks Investment Research lowered shares of CLEAR CHANNEL O/SH from a “hold” rating to a “strong sell” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets reaffirmed an “average” rating and set a $17.50 price objective on shares of CLEAR CHANNEL O/SH in a report on Tuesday, February 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Shares of NYSE CCO remained flat at $$5.14 during mid-day trading on Thursday. 1,078,393 shares of the stock traded hands, compared to its average volume of 252,281. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -8.86 and a beta of 0.99. CLEAR CHANNEL O/SH has a 12 month low of $4.22 and a 12 month high of $6.38.

In other news, major shareholder Pacific Investment Management sold 1,201,851 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $5.05, for a total transaction of $6,069,347.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its stake in CLEAR CHANNEL O/SH by 2.5% in the third quarter. Vanguard Group Inc now owns 3,164,819 shares of the business services provider’s stock valued at $18,831,000 after acquiring an additional 76,970 shares during the last quarter. Vanguard Group Inc. boosted its stake in CLEAR CHANNEL O/SH by 2.5% in the third quarter. Vanguard Group Inc. now owns 3,164,819 shares of the business services provider’s stock valued at $18,831,000 after acquiring an additional 76,970 shares during the last quarter. Gabelli Funds LLC boosted its stake in CLEAR CHANNEL O/SH by 0.3% in the first quarter. Gabelli Funds LLC now owns 3,127,701 shares of the business services provider’s stock valued at $16,733,000 after acquiring an additional 9,300 shares during the last quarter. BlackRock Inc. boosted its stake in CLEAR CHANNEL O/SH by 11.0% in the third quarter. BlackRock Inc. now owns 2,821,401 shares of the business services provider’s stock valued at $16,787,000 after acquiring an additional 279,613 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in CLEAR CHANNEL O/SH by 6.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,737,363 shares of the business services provider’s stock valued at $14,207,000 after acquiring an additional 167,241 shares during the last quarter. 8.90% of the stock is currently owned by institutional investors and hedge funds.

CLEAR CHANNEL O/SH Company Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins 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; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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Earnings History and Estimates for CLEAR CHANNEL O/SH (NYSE:CCO)

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