Clear Channel Outdoor Holdings, Inc. (CCO) Expected to Announce Quarterly Sales of $727.53 Million

Wall Street brokerages forecast that Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will report sales of $727.53 million for the current quarter, according to Zacks. Two analysts have provided estimates for Clear Channel Outdoor’s earnings, with the highest sales estimate coming in at $728.00 million and the lowest estimate coming in at $727.07 million. Clear Channel Outdoor posted sales of $726.47 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.1%. The company is expected to issue its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Clear Channel Outdoor will report full-year sales of $727.53 million for the current fiscal year, with estimates ranging from $2.57 billion to $2.59 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.65 billion per share, with estimates ranging from $2.64 billion to $2.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Clear Channel Outdoor.

CCO has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Scotiabank reiterated a “sell” rating and set a $12.00 price target on shares of Clear Channel Outdoor in a research note on Monday. Finally, Loop Capital dropped their price target on shares of Clear Channel Outdoor from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $6.94.

Clear Channel Outdoor (NYSE:CCO) opened at $4.40 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of -4.10. The company has a market cap of $1,601.53, a price-to-earnings ratio of 220.00 and a beta of 1.69. Clear Channel Outdoor has a one year low of $3.35 and a one year high of $6.35.

Several institutional investors have recently modified their holdings of the company. Citigroup Inc. increased its stake in shares of Clear Channel Outdoor by 0.3% during the second quarter. Citigroup Inc. now owns 72,458 shares of the business services provider’s stock worth $351,000 after acquiring an additional 236 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Clear Channel Outdoor by 1.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,065 shares of the business services provider’s stock worth $102,000 after acquiring an additional 300 shares during the period. Federated Investors Inc. PA increased its stake in shares of Clear Channel Outdoor by 0.4% during the second quarter. Federated Investors Inc. PA now owns 77,518 shares of the business services provider’s stock worth $376,000 after acquiring an additional 327 shares during the period. State Street Corp increased its stake in shares of Clear Channel Outdoor by 0.4% during the second quarter. State Street Corp now owns 685,944 shares of the business services provider’s stock worth $3,326,000 after acquiring an additional 3,004 shares during the period. Finally, Pacific Alternative Asset Management Company LLC boosted its holdings in Clear Channel Outdoor by 10.5% during the second quarter. Pacific Alternative Asset Management Company LLC now owns 57,585 shares of the business services provider’s stock worth $279,000 after buying an additional 5,485 shares in the last quarter. Institutional investors and hedge funds own 9.47% of the company’s stock.

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Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).

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Earnings History and Estimates for Clear Channel Outdoor (NYSE:CCO)

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