Brokerages Expect Clear Channel Outdoor Holdings, Inc. (CCO) Will Post Earnings of $0.05 Per Share

Equities analysts expect that Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will post $0.05 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Clear Channel Outdoor’s earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at $0.03. Clear Channel Outdoor reported earnings per share of $0.28 in the same quarter last year, which suggests a negative year-over-year growth rate of 82.1%. The business is expected to issue its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Clear Channel Outdoor will report full year earnings of ($0.22) per share for the current fiscal year, with EPS estimates ranging from ($0.24) to ($0.20). For the next year, analysts anticipate that the company will report earnings of ($0.15) per share, with EPS estimates ranging from ($0.19) to ($0.10). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Clear Channel Outdoor.

A number of research firms have commented on CCO. Zacks Investment Research cut shares of Clear Channel Outdoor from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. ValuEngine raised shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Loop Capital cut their target price on shares of 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. Finally, Scotiabank restated a “sell” rating and set a $12.00 target price on shares of Clear Channel Outdoor in a research note on Monday. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.94.

Shares of Clear Channel Outdoor (NYSE:CCO) remained flat at $$4.40 during mid-day trading on Wednesday. 122,359 shares of the stock traded hands, compared to its average volume of 187,502. The company has a debt-to-equity ratio of -4.10, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $1,601.53, a price-to-earnings ratio of 220.00 and a beta of 1.69. Clear Channel Outdoor has a 12-month low of $3.35 and a 12-month high of $6.35.

Institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors purchased a new position in Clear Channel Outdoor in the second quarter valued at approximately $100,000. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Clear Channel Outdoor by 1.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,065 shares of the business services provider’s stock worth $102,000 after acquiring an additional 300 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Clear Channel Outdoor by 70.6% during the second quarter. Voya Investment Management LLC now owns 22,912 shares of the business services provider’s stock worth $111,000 after acquiring an additional 9,485 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in shares of Clear Channel Outdoor during the second quarter worth approximately $152,000. Finally, Advisors Asset Management Inc. grew its position in shares of Clear Channel Outdoor by 4,583.2% during the third quarter. Advisors Asset Management Inc. now owns 41,493 shares of the business services provider’s stock worth $193,000 after acquiring an additional 40,607 shares during the last quarter. Institutional investors own 9.47% of the company’s stock.

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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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Earnings History and Estimates for Clear Channel Outdoor (NYSE:CCO)

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