Barclays Slashes Numbers on Clear Channel (NYSE: CCO) After Disappointing Q1 and Lack of N-T Catalysts
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Price: $1.65 +7.14%
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 6 | Down: 3 | New: 1
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 6 | Down: 3 | New: 1
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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.
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.
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