Close

Barclays Slashes Numbers on Clear Channel (NYSE: CCO) After Disappointing Q1 and Lack of N-T Catalysts

May 7, 2012 2:42 PM EDT
Get Alerts CCO Hot Sheet
Price: $1.65 +7.14%

Rating Summary:
    4 Buy, 5 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 1
Join SI Premium – FREE
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.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Barclays, Dividend