Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Expected to Announce Earnings of -$0.24 Per Share

Analysts expect Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) to post earnings of ($0.24) per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Clear Channel Outdoor’s earnings. The lowest EPS estimate is ($0.29) and the highest is ($0.19). Clear Channel Outdoor reported earnings of ($0.30) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The business is scheduled to announce its next quarterly earnings results on Friday, August 6th.

According to Zacks, analysts expect that Clear Channel Outdoor will report full-year earnings of ($1.08) per share for the current financial year. For the next financial year, analysts expect that the firm will post earnings of ($0.34) per share, with EPS estimates ranging from ($0.35) to ($0.31). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Clear Channel Outdoor.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Sunday, May 9th. The business services provider reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.25). The company had revenue of $370.91 million for the quarter, compared to the consensus estimate of $367.85 million.

Several equities analysts have recently issued reports on CCO shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on Clear Channel Outdoor from $2.20 to $2.50 and gave the company a “neutral” rating in a research note on Thursday. Zacks Investment Research lowered Clear Channel Outdoor from a “buy” rating to a “hold” rating in a research note on Tuesday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Clear Channel Outdoor in a research note on Monday, May 17th. Morgan Stanley raised their price objective on Clear Channel Outdoor from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Citigroup raised their price target on Clear Channel Outdoor from $2.20 to $2.50 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $4.54.

NYSE CCO traded up $0.31 during trading hours on Friday, reaching $3.01. The stock had a trading volume of 155,771 shares, compared to its average volume of 3,299,843. The stock has a market cap of $1.42 billion, a PE ratio of -2.20 and a beta of 2.63. The company’s fifty day moving average is $2.28. Clear Channel Outdoor has a 52-week low of $0.86 and a 52-week high of $3.05.

A number of institutional investors have recently added to or reduced their stakes in CCO. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Clear Channel Outdoor by 44.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,400 shares of the business services provider’s stock worth $26,000 after purchasing an additional 4,400 shares during the period. Capula Management Ltd purchased a new position in shares of Clear Channel Outdoor in the 1st quarter valued at about $33,000. Centiva Capital LP boosted its stake in shares of Clear Channel Outdoor by 32.1% in the 1st quarter. Centiva Capital LP now owns 22,515 shares of the business services provider’s stock valued at $41,000 after buying an additional 5,468 shares during the period. Close Asset Management Ltd purchased a new position in shares of Clear Channel Outdoor in the 1st quarter valued at about $52,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Clear Channel Outdoor by 60.1% in the 4th quarter. Teacher Retirement System of Texas now owns 32,074 shares of the business services provider’s stock valued at $53,000 after buying an additional 12,040 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures; and retail and other small displays.

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

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