Clear Channel Outdoor (NYSE:CCO) Announces Earnings Results, Beats Expectations By $0.02 EPS

Clear Channel Outdoor (NYSE:CCO - Get Free Report) issued its quarterly earnings results on Thursday, May 1st. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02, Zacks reports. The company had revenue of $334.18 million for the quarter, compared to analysts' expectations of $337.70 million. Clear Channel Outdoor updated its FY 2025 guidance to EPS and its Q2 2025 guidance to EPS.

Clear Channel Outdoor Stock Down 2.3 %

Shares of NYSE:CCO traded down $0.03 during midday trading on Thursday, reaching $1.08. 2,186,173 shares of the company traded hands, compared to its average volume of 1,677,744. The firm's fifty day moving average price is $1.08 and its two-hundred day moving average price is $1.33. Clear Channel Outdoor has a 12 month low of $0.81 and a 12 month high of $1.88. The firm has a market capitalization of $526.81 million, a price-to-earnings ratio of -3.71 and a beta of 2.58.

Analyst Ratings Changes

CCO has been the subject of several research reports. Morgan Stanley cut their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Barrington Research downgraded shares of Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 23rd.

Insider Activity

In other Clear Channel Outdoor news, CEO Scott Wells acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $1.08 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the chief executive officer now owns 3,392,205 shares of the company's stock, valued at approximately $3,663,581.40. This represents a 1.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Arturo R. Moreno bought 2,500,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $0.94 per share, for a total transaction of $2,350,000.00. Following the completion of the purchase, the insider now directly owns 57,432,534 shares of the company's stock, valued at $53,986,581.96. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 7,726,201 shares of company stock worth $7,468,275. 7.70% of the stock is owned by company insiders.

About Clear Channel Outdoor

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.