Analysts Expect Clear Channel Outdoor Holdings, Inc. (CCO) Will Announce Quarterly Sales of $718.86 Million

Equities research analysts expect Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) to report sales of $718.86 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Clear Channel Outdoor’s earnings. The lowest sales estimate is $709.72 million and the highest is $728.00 million. Clear Channel Outdoor posted sales of $726.47 million during the same quarter last year, which suggests a negative year over year growth rate of 1%. The company is expected to issue its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Clear Channel Outdoor will report full-year sales of $718.86 million for the current year, with estimates ranging from $2.57 billion to $2.59 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.63 billion per share, with estimates ranging from $2.61 billion to $2.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Clear Channel Outdoor.

A number of research analysts have recently weighed in on CCO shares. Zacks Investment Research raised Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Loop Capital cut their price target on 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. Cleveland Research downgraded Clear Channel Outdoor from a “buy” rating to a “neutral” rating in a research note on Friday, February 9th. Finally, Scotiabank reissued a “sell” rating and issued a $12.00 price target on shares of Clear Channel Outdoor in a research note on Monday, December 4th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Clear Channel Outdoor currently has an average rating of “Hold” and a consensus target price of $6.94.

Clear Channel Outdoor (NYSE:CCO) opened at $4.65 on Wednesday. Clear Channel Outdoor has a 1-year low of $3.35 and a 1-year high of $6.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of -4.10. The stock has a market capitalization of $1,710.00, a price-to-earnings ratio of 232.50 and a beta of 1.71.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors bought a new stake in shares of Clear Channel Outdoor in the 2nd quarter valued at $100,000. Voya Investment Management LLC increased its position in shares of Clear Channel Outdoor by 70.6% in the 2nd quarter. Voya Investment Management LLC now owns 22,912 shares of the business services provider’s stock valued at $111,000 after buying an additional 9,485 shares in the last quarter. Balyasny Asset Management LLC bought a new position in Clear Channel Outdoor during the 2nd quarter worth about $152,000. The Manufacturers Life Insurance Company increased its holdings in Clear Channel Outdoor by 112.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 40,868 shares of the business services provider’s stock worth $187,000 after purchasing an additional 21,674 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Clear Channel Outdoor by 4,583.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 41,493 shares of the business services provider’s stock worth $193,000 after purchasing an additional 40,607 shares in the last quarter. Institutional investors and hedge funds own 9.45% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Analysts Expect Clear Channel Outdoor Holdings, Inc. (CCO) Will Announce Quarterly Sales of $718.86 Million” was posted by American Banking News and is the property of of American Banking News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/02/14/analysts-expect-clear-channel-outdoor-holdings-inc-cco-will-announce-quarterly-sales-of-718-86-million.html.

About Clear Channel Outdoor

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).

Get a free copy of the Zacks research report on Clear Channel Outdoor (CCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Clear Channel Outdoor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply