Brokerages forecast that Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will report sales of $643.63 million for the current quarter, Zacks Investment Research reports. Two analysts have provided 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 reported sales of $673.06 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.4%. The business is scheduled to report its next earnings results on Wednesday, November 8th.

According to Zacks, analysts expect that Clear Channel Outdoor Holdings will report full year sales of $643.63 million for the current financial year, with estimates ranging from $2.58 billion to $2.61 billion. For the next year, analysts expect that the business will report sales of $2.66 billion per share, with estimates ranging from $2.62 billion to $2.70 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow 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, hitting the Thomson Reuters’ consensus estimate of ($0.01). Clear Channel Outdoor Holdings had a negative return on equity of 3.35% and a net margin of 1.40%. The company had revenue of $672.32 million for the quarter, compared to analysts’ expectations of $672.22 million.

CCO has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub raised shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, ValuEngine lowered shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and five 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 $7.81.

Hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors acquired a new position in shares of Clear Channel Outdoor Holdings in the 2nd quarter worth approximately $100,000. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Clear Channel Outdoor Holdings by 16.9% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,765 shares of the business services provider’s stock worth $126,000 after purchasing an additional 3,000 shares during the period. Voya Investment Management LLC lifted its position in shares of Clear Channel Outdoor Holdings by 70.6% in the 2nd quarter. Voya Investment Management LLC now owns 22,912 shares of the business services provider’s stock worth $111,000 after purchasing an additional 9,485 shares during the period. Balyasny Asset Management LLC acquired a new position in shares of Clear Channel Outdoor Holdings in the 2nd quarter worth approximately $152,000. Finally, Laurion Capital Management LP acquired a new position in shares of Clear Channel Outdoor Holdings in the 1st quarter worth approximately $215,000. Hedge funds and other institutional investors own 9.64% of the company’s stock.

Shares of Clear Channel Outdoor Holdings (CCO) opened at 4.05 on Monday. The firm has a market cap of $1.46 billion, a PE ratio of 40.50 and a beta of 1.55. The firm’s 50-day moving average price is $4.52 and its 200-day moving average price is $4.85. Clear Channel Outdoor Holdings has a one year low of $3.35 and a one year high of $7.02.

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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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