Equities analysts expect Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) to report sales of $669.31 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Clear Channel Outdoor Holdings’ earnings, with the highest sales estimate coming in at $677.19 million and the lowest estimate coming in at $661.43 million. Clear Channel Outdoor Holdings reported sales of $712.15 million in the same quarter last year, which would indicate a negative year over year growth rate of 6%. The company is expected to report its next earnings results on Thursday, August 3rd.

On average, analysts expect that Clear Channel Outdoor Holdings will report full year sales of $669.31 million for the current fiscal year, with estimates ranging from $2.58 billion to $2.61 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.64 billion per share, with estimates ranging from $2.62 billion to $2.66 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Clear Channel Outdoor Holdings.

Clear Channel Outdoor Holdings (NYSE:CCO) last issued its quarterly earnings data on Thursday, May 4th. The business services provider reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.07. Clear Channel Outdoor Holdings had a negative return on equity of 14.75% and a negative net margin of 1.04%. The company had revenue of $544.73 million during the quarter, compared to analyst estimates of $559.30 million.

CCO has been the topic of a number of research reports. ValuEngine downgraded Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. TheStreet downgraded Clear Channel Outdoor Holdings from a “c” rating to a “d” rating in a research note on Thursday, May 4th. BidaskClub raised Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research downgraded Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Clear Channel Outdoor Holdings presently has a consensus rating of “Hold” and an average price target of $7.69.

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Clear Channel Outdoor Holdings by 4.0% in the fourth quarter. Renaissance Technologies LLC now owns 896,100 shares of the business services provider’s stock worth $4,525,000 after buying an additional 34,600 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Clear Channel Outdoor Holdings by 15.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 54,919 shares of the business services provider’s stock worth $277,000 after buying an additional 7,260 shares during the last quarter. Mariner Investment Group LLC increased its stake in Clear Channel Outdoor Holdings by 42.1% in the first quarter. Mariner Investment Group LLC now owns 250,630 shares of the business services provider’s stock worth $1,516,000 after buying an additional 74,300 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Clear Channel Outdoor Holdings by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 376,408 shares of the business services provider’s stock worth $1,901,000 after buying an additional 24,447 shares during the last quarter. Finally, Norges Bank purchased a new stake in Clear Channel Outdoor Holdings during the fourth quarter worth about $681,000. 9.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Clear Channel Outdoor Holdings (NYSE:CCO) remained flat at $4.35 on Thursday. The stock had a trading volume of 92,155 shares. The stock’s market capitalization is $1.57 billion. The firm has a 50 day moving average of $4.02 and a 200-day moving average of $4.99. Clear Channel Outdoor Holdings has a 12-month low of $3.35 and a 12-month high of $7.31.

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About Clear Channel Outdoor Holdings

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 Holdings (NYSE:CCO)

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