Equities analysts forecast that Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will announce sales of $718.86 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Clear Channel Outdoor’s earnings, with the highest sales estimate coming in at $728.00 million and the lowest estimate coming in at $709.72 million. Clear Channel Outdoor reported sales of $726.47 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Clear Channel Outdoor will report full-year sales of $718.86 million for the current fiscal year, with estimates ranging from $2.57 billion to $2.59 billion. For the next financial year, analysts expect that the company will post sales of $2.63 billion per share, with estimates ranging from $2.61 billion to $2.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Clear Channel Outdoor.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). The business had revenue of $645.09 million for the quarter, compared to the consensus estimate of $640.94 million. Clear Channel Outdoor had a negative return on equity of 0.52% and a net margin of 0.24%.

CCO has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, October 13th. 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 report on Thursday, November 9th. Finally, Scotiabank restated a “sell” rating and set a $12.00 price target on shares of Clear Channel Outdoor in a report on Monday, December 4th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $6.94.

Institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors bought a new position in shares of Clear Channel Outdoor in the 2nd quarter worth $100,000. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Clear Channel Outdoor by 1.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,065 shares of the business services provider’s stock worth $102,000 after purchasing an additional 300 shares in the last quarter. Voya Investment Management LLC lifted its holdings 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 worth $111,000 after purchasing an additional 9,485 shares in the last quarter. Balyasny Asset Management LLC bought a new position in shares of Clear Channel Outdoor in the 2nd quarter worth $152,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Clear Channel Outdoor by 4,583.2% in 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 own 9.45% of the company’s stock.

Clear Channel Outdoor (NYSE:CCO) traded down $0.05 during trading on Monday, hitting $4.80. The company’s stock had a trading volume of 62,194 shares, compared to its average volume of 105,368. The company has a market cap of $1,728.92, a PE ratio of 241.25 and a beta of 1.70. Clear Channel Outdoor has a 52-week low of $3.35 and a 52-week high of $6.35. The company has a debt-to-equity ratio of -4.10, a current ratio of 1.47 and a quick ratio of 1.47.

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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).

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