Analysts Expect Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) to Post -$0.03 EPS

Wall Street analysts expect Clear Channel Outdoor Holdings, Inc. (NYSE:CCOGet Rating) to announce ($0.03) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Clear Channel Outdoor’s earnings, with estimates ranging from ($0.08) to $0.01. Clear Channel Outdoor reported earnings per share of ($0.27) in the same quarter last year, which would suggest a positive year-over-year growth rate of 88.9%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Clear Channel Outdoor will report full year earnings of ($0.04) per share for the current year, with EPS estimates ranging from ($0.09) to $0.05. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.16 per share, with EPS estimates ranging from $0.02 to $0.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Clear Channel Outdoor.

Clear Channel Outdoor (NYSE:CCOGet Rating) last issued its earnings results on Tuesday, May 10th. The business services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). The business had revenue of $525.69 million during the quarter, compared to analyst estimates of $536.95 million. During the same quarter last year, the company posted ($0.42) EPS.

Several analysts recently issued reports on the stock. StockNews.com began coverage on shares of Clear Channel Outdoor in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. Finally, Barrington Research lowered their target price on Clear Channel Outdoor from $5.00 to $3.25 in a research report on Friday, May 13th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.13.

NYSE:CCO opened at $1.53 on Tuesday. The company has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $3.04. The company has a market cap of $721.16 million, a PE ratio of -3.64 and a beta of 2.41. Clear Channel Outdoor has a 12 month low of $1.42 and a 12 month high of $4.10.

In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 561,112 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $1.58, for a total transaction of $886,556.96. Following the sale, the insider now directly owns 104,872,541 shares of the company’s stock, valued at $165,698,614.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Clear Channel Outdoor by 51,704.2% in the second quarter. Royal Bank of Canada now owns 24,866 shares of the business services provider’s stock worth $66,000 after purchasing an additional 24,818 shares during the last quarter. Bank of America Corp DE increased its position in shares of Clear Channel Outdoor by 10.0% during the second quarter. Bank of America Corp DE now owns 398,682 shares of the business services provider’s stock worth $1,053,000 after acquiring an additional 36,206 shares during the period. Barclays PLC raised its stake in shares of Clear Channel Outdoor by 223.0% during the third quarter. Barclays PLC now owns 148,432 shares of the business services provider’s stock valued at $403,000 after acquiring an additional 102,478 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Clear Channel Outdoor by 48.7% in the third quarter. Citigroup Inc. now owns 76,984 shares of the business services provider’s stock valued at $209,000 after purchasing an additional 25,215 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Clear Channel Outdoor by 52.7% in the third quarter. Goldman Sachs Group Inc. now owns 2,138,457 shares of the business services provider’s stock worth $5,796,000 after purchasing an additional 738,013 shares in the last quarter. Hedge funds and other institutional investors own 92.20% of the company’s stock.

Clear Channel Outdoor Company Profile (Get Rating)

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.

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

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