CLEAR CHANNEL O/SH (NYSE:CCO) Releases Earnings Results, Misses Expectations By $0.36 EPS

CLEAR CHANNEL O/SH (NYSE:CCO) posted its quarterly earnings results on Wednesday. The business services provider reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.36), Fidelity Earnings reports. The company had revenue of $653.45 million for the quarter, compared to analyst estimates of $655.36 million.

NYSE CCO traded up $0.01 during trading on Friday, reaching $2.68. 665,651 shares of the stock traded hands, compared to its average volume of 1,848,112. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -4.62 and a beta of 0.75. The stock’s 50-day moving average price is $2.53 and its 200 day moving average price is $3.67. CLEAR CHANNEL O/SH has a fifty-two week low of $2.06 and a fifty-two week high of $6.20.

CCO has been the subject of a number of recent research reports. Citigroup started coverage on shares of CLEAR CHANNEL O/SH in a research note on Wednesday, September 4th. They set a “neutral” rating and a $2.70 price target for the company. Wells Fargo & Co started coverage on shares of CLEAR CHANNEL O/SH in a report on Monday, September 23rd. They set an “outperform” rating and a $4.00 price objective for the company. Barclays started coverage on shares of CLEAR CHANNEL O/SH in a report on Wednesday, September 4th. They set an “overweight” rating and a $3.00 price objective for the company. Zacks Investment Research cut shares of CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Raymond James restated an “average” rating and set a $16.00 price objective on shares of CLEAR CHANNEL O/SH in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. CLEAR CHANNEL O/SH currently has a consensus rating of “Hold” and a consensus price target of $6.90.

In other news, CEO Scott Wells acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $2.36 per share, for a total transaction of $35,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher William Eccleshare sold 81,454 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $2.54, for a total transaction of $206,893.16. Following the transaction, the chief executive officer now owns 950,536 shares of the company’s stock, valued at approximately $2,414,361.44. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 435,000 shares of company stock valued at $996,200. Corporate insiders own 4.70% of the company’s stock.

About CLEAR CHANNEL O/SH

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 for CLEAR CHANNEL O/SH (NYSE:CCO)

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