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Outdoor advertising company Clear Channel Outdoor has recently come under pressure from activist investor Legion Partners (5% stake). The activist argues the company should accelerate the ongoing sale process of the European segment.
The advertising specialist has come under pressure from an activist investor. That shareholder is pushing for the company to sell itself.
Clear Channel Outdoor Holdings, Inc. (NYSE:CCO ) Q1 2023 Results Earnings Conference Call May 14, 2023 8:30 AM ET Company Participants Eileen McLaughlin - Vice President of Investor Relations Scott Wells - Chief Executive Officer Brian Coleman - Executive Vice President and Chief Financial Officer Justin Cochrane - Chief Executive Officer, UK and Europe Conference Call Participants Avi Steiner - J.P. Morgan Daniel Osley - Wells Fargo Cameron McVeigh - Morgan Stanley Aaron Watts - Deutsche Bank James Goss - Barrington Research Lance Vitanza - TD Cowen Eileen McLaughlin Good morning, and thank you for joining our call.
Clear Channel Outdoor (CCO) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.19 per share a year ago.
Clear Channel Outdoor (CCO) delivered earnings and revenue surprises of 300% and 0.37%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Clear Channel Outdoor (CCO) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
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SAN ANTONIO , Jan. 5, 2023 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") will release 2022 fourth quarter results before the market opens on Tuesday, February 28, 2023, by 7:00 a.m. and will host a conference call to discuss the results at 8:30 a.m.
SKFRY, ABST and CCO have been added to the Zacks Rank #5 (Strong Sell) List on December 5, 2022.
Rising interest rates are providing another headwind for CCO management's deleveraging plan. Over the next 2-3 quarters, YoY comps will be impacted by higher interest expense and management might have to slightly adjust CapEx plans for 2023.