Barrington Research Equities Analysts Reduce Earnings Estimates for Clear Channel Outdoor Holdings, Inc. (CCO)

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) – Analysts at Barrington Research decreased their Q1 2019 earnings per share (EPS) estimates for shares of Clear Channel Outdoor in a report issued on Monday, March 11th. Barrington Research analyst J. Goss now anticipates that the business services provider will earn ($0.20) per share for the quarter, down from their previous estimate of ($0.19). Barrington Research currently has a “Outperform” rating and a $6.50 target price on the stock. Barrington Research also issued estimates for Clear Channel Outdoor’s Q3 2019 earnings at ($0.08) EPS, FY2019 earnings at ($0.23) EPS and FY2020 earnings at ($0.15) EPS.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets reaffirmed an “average” rating and set a $17.50 price objective on shares of Clear Channel Outdoor in a research report on Tuesday, February 12th. Zacks Investment Research raised shares of Clear Channel Outdoor from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Thursday, January 3rd. ValuEngine lowered shares of Clear Channel Outdoor from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. TheStreet raised shares of Clear Channel Outdoor from a “d” rating to a “c-” rating in a research report on Friday, March 8th. Finally, Wolfe Research started coverage on shares of Clear Channel Outdoor in a research report on Friday, December 7th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Clear Channel Outdoor currently has an average rating of “Buy” and an average target price of $10.00.

Shares of CCO opened at $5.41 on Thursday. The company has a market cap of $2.01 billion, a P/E ratio of -9.33 and a beta of 1.07. Clear Channel Outdoor has a twelve month low of $4.22 and a twelve month high of $6.38.

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Clear Channel Outdoor by 56.4% in the fourth quarter. Legal & General Group Plc now owns 8,116 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 2,927 shares during the period. California Public Employees Retirement System raised its position in shares of Clear Channel Outdoor by 7.2% in the fourth quarter. California Public Employees Retirement System now owns 73,340 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 4,935 shares during the period. Meeder Asset Management Inc. raised its position in shares of Clear Channel Outdoor by 900.6% in the fourth quarter. Meeder Asset Management Inc. now owns 6,234 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 5,611 shares during the period. Bank of America Corp DE raised its position in shares of Clear Channel Outdoor by 15.9% in the fourth quarter. Bank of America Corp DE now owns 49,402 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 6,775 shares during the period. Finally, Northern Trust Corp raised its position in shares of Clear Channel Outdoor by 1.5% in the fourth quarter. Northern Trust Corp now owns 574,659 shares of the business services provider’s stock valued at $2,982,000 after purchasing an additional 8,301 shares during the period. 8.95% of the stock is currently owned by institutional investors.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates in 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 Outdoor (NYSE:CCO)

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