Barclays Slashes Numbers on Clear Channel (NYSE: CCO) After Disappointing Q1 and Lack of N-T Catalysts
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Price: $8.37 +0.48%
Rating Summary:
1 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 24 | New: 24
Rating Summary:
1 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 24 | New: 24
Trade CCO Now!
Barclays maintains an 'Equalweight' on Clear Channel (NYSE: CCO) price target halved to $6.00.
Analyst, Anthony DiClemente, said, "1Q results fell short of expectations on revenues, costs, and 2Q pacings, as anemic revenue trends in the Americas and International segments coincided with a sharp uptick in expenses during the quarter. On account of our more tepid outlook for the 2Q and FY, we are lowering our estimates accordingly. Also, given the effect of a $6.08 special dividend which was paid out in the 1Q, we are lowering our price target."
FY12 EPS estimate cut from $0.18 to -0.17 and FY13 from $0.20 to -0.20.
For an analyst ratings summary and ratings history on Clear Channel click here. For more ratings news on Clear Channel click here.
Shares of Clear Channel closed at $7.02 yesterday, with a 52 week range of $6.47-$15.38.
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Analyst, Anthony DiClemente, said, "1Q results fell short of expectations on revenues, costs, and 2Q pacings, as anemic revenue trends in the Americas and International segments coincided with a sharp uptick in expenses during the quarter. On account of our more tepid outlook for the 2Q and FY, we are lowering our estimates accordingly. Also, given the effect of a $6.08 special dividend which was paid out in the 1Q, we are lowering our price target."
FY12 EPS estimate cut from $0.18 to -0.17 and FY13 from $0.20 to -0.20.
For an analyst ratings summary and ratings history on Clear Channel click here. For more ratings news on Clear Channel click here.
Shares of Clear Channel closed at $7.02 yesterday, with a 52 week range of $6.47-$15.38.
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