$669.31 Million in Sales Expected for Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) This Quarter

Analysts predict that Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will post sales of $669.31 million for the current quarter, according to Zacks. Two analysts have issued estimates for Clear Channel Outdoor Holdings’ earnings. The highest sales estimate is $677.19 million and the lowest is $661.43 million. Clear Channel Outdoor Holdings posted sales of $712.15 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6%. The firm is expected to report its next earnings report before the market opens on Thursday, August 3rd.

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On average, analysts expect that Clear Channel Outdoor Holdings will report full-year sales of $669.31 million for the current fiscal year, with estimates ranging from $2.58 billion to $2.61 billion. For the next year, analysts anticipate that the company will post sales of $2.64 billion per share, with estimates ranging from $2.62 billion to $2.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Clear Channel Outdoor Holdings.

Clear Channel Outdoor Holdings (NYSE:CCO) last issued its quarterly earnings data on Thursday, May 4th. The business services provider reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. Clear Channel Outdoor Holdings had a negative net margin of 1.04% and a negative return on equity of 14.75%. The firm had revenue of $544.73 million during the quarter, compared to the consensus estimate of $559.30 million.

CCO has been the subject of several recent research reports. TheStreet cut shares of Clear Channel Outdoor Holdings from a “c” rating to a “d” rating in a report on Thursday, May 4th. ValuEngine lowered shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, BidaskClub upgraded shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company. Clear Channel Outdoor Holdings has an average rating of “Hold” and an average target price of $7.81.

Shares of Clear Channel Outdoor Holdings (CCO) opened at 5.25 on Friday. Clear Channel Outdoor Holdings has a 12 month low of $3.35 and a 12 month high of $7.31. The stock’s 50 day moving average is $4.47 and its 200-day moving average is $4.95. The company’s market cap is $1.89 billion.

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Several hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System raised its stake in shares of Clear Channel Outdoor Holdings by 15.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 54,919 shares of the business services provider’s stock valued at $277,000 after buying an additional 7,260 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Clear Channel Outdoor Holdings by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 376,408 shares of the business services provider’s stock valued at $1,901,000 after buying an additional 24,447 shares during the period. Renaissance Technologies LLC raised its stake in shares of Clear Channel Outdoor Holdings by 4.0% in the fourth quarter. Renaissance Technologies LLC now owns 896,100 shares of the business services provider’s stock valued at $4,525,000 after buying an additional 34,600 shares during the period. Norges Bank bought a new stake in shares of Clear Channel Outdoor Holdings during the fourth quarter valued at about $681,000. Finally, AEGON USA Investment Management LLC raised its stake in shares of Clear Channel Outdoor Holdings by 121.3% in the first quarter. AEGON USA Investment Management LLC now owns 238,136 shares of the business services provider’s stock valued at $1,441,000 after buying an additional 130,521 shares during the period. Institutional investors and hedge funds own 9.15% of the company’s stock.

About Clear Channel Outdoor Holdings

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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