Equities research analysts expect Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) to post sales of $643.63 million for the current quarter, Zacks reports. Two analysts have made estimates for Clear Channel Outdoor Holdings’ earnings, with the highest sales estimate coming in at $647.00 million and the lowest estimate coming in at $640.25 million. Clear Channel Outdoor Holdings posted sales of $673.06 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 8th.

On average, analysts expect that Clear Channel Outdoor Holdings will report full-year sales of $643.63 million for the current year, with estimates ranging from $2.58 billion to $2.61 billion. For the next financial year, analysts expect that the company will post sales of $2.66 billion per share, with estimates ranging from $2.62 billion to $2.70 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Clear Channel Outdoor Holdings.

Clear Channel Outdoor Holdings (NYSE:CCO) last released its earnings results on Thursday, August 3rd. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Clear Channel Outdoor Holdings had a net margin of 1.40% and a negative return on equity of 3.35%. The company had revenue of $672.32 million for the quarter, compared to the consensus estimate of $672.22 million.

A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub upgraded shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, ValuEngine cut shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $7.81.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mariner Investment Group LLC lifted its stake in shares of Clear Channel Outdoor Holdings by 42.1% during the 1st 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. Laurion Capital Management LP acquired a new stake in shares of Clear Channel Outdoor Holdings during the 1st quarter worth about $215,000. Vanguard Group Inc. lifted its stake in shares of Clear Channel Outdoor Holdings by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 2,769,397 shares of the business services provider’s stock worth $16,754,000 after buying an additional 151,067 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Clear Channel Outdoor Holdings by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,696,145 shares of the business services provider’s stock worth $27,626,000 after buying an additional 300,142 shares during the last quarter. Finally, Blue Sky Asset Management LLC acquired a new stake in shares of Clear Channel Outdoor Holdings during the 1st quarter worth about $1,453,000. Institutional investors own 9.64% of the company’s stock.

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Shares of Clear Channel Outdoor Holdings (NYSE:CCO) opened at 4.05 on Friday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 40.50 and a beta of 1.55. Clear Channel Outdoor Holdings has a 52 week low of $3.35 and a 52 week high of $6.35. The firm’s 50-day moving average is $4.20 and its 200-day moving average is $4.76.

Clear Channel Outdoor Holdings 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 Holdings (NYSE:CCO)

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