$718.86 Million in Sales Expected for Clear Channel Outdoor Holdings, Inc. (CCO) This Quarter
Wall Street brokerages forecast that Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will report $718.86 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Clear Channel Outdoor’s earnings. The highest sales estimate is $728.00 million and the lowest is $709.72 million. Clear Channel Outdoor reported sales of $726.47 million in the same quarter last year, which indicates a negative year over year growth rate of 1%. The business is scheduled to report 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 report sales of $2.63 billion per share, with estimates ranging from $2.61 billion to $2.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Clear Channel Outdoor.
Several equities research analysts have issued reports on CCO shares. Zacks Investment Research lowered shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Scotiabank reiterated a “sell” rating and set a $12.00 target price on shares of Clear Channel Outdoor in a research report on Monday, December 4th. ValuEngine upgraded shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Finally, Loop Capital dropped their target price on shares of Clear Channel Outdoor from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.94.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors bought a new stake in Clear Channel Outdoor in the second quarter valued at $100,000. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Clear Channel Outdoor by 1.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,065 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 300 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Clear Channel Outdoor by 70.6% in the second quarter. Voya Investment Management LLC now owns 22,912 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 9,485 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in Clear Channel Outdoor in the second quarter valued at $152,000. Finally, Advisors Asset Management Inc. boosted its holdings in Clear Channel Outdoor by 4,583.2% in the third quarter. Advisors Asset Management Inc. now owns 41,493 shares of the business services provider’s stock valued at $193,000 after acquiring an additional 40,607 shares in the last quarter. 9.47% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: “$718.86 Million in Sales Expected for Clear Channel Outdoor Holdings, Inc. (CCO) This Quarter” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another website, it was illegally stolen and reposted in violation of US and international copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/12/26/718-86-million-in-sales-expected-for-clear-channel-outdoor-holdings-inc-cco-this-quarter.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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock 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 stocks with our FREE daily email newsletter.