Equities analysts predict that Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will report earnings of $0.04 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Clear Channel Outdoor’s earnings, with the lowest EPS estimate coming in at $0.03 and the highest estimate coming in at $0.04. Clear Channel Outdoor reported earnings per share of $0.28 during the same quarter last year, which suggests a negative year over year growth rate of 85.7%. The firm is expected to announce its next earnings results on Thursday, February 22nd.
On average, analysts expect that Clear Channel Outdoor will report full-year earnings of ($0.23) per share for the current fiscal year, with EPS estimates ranging from ($0.24) to ($0.22). For the next year, analysts anticipate that the firm will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.19) to ($0.13). Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Clear Channel Outdoor.
CCO has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research cut shares of Clear Channel Outdoor from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Loop Capital decreased their price objective on shares of Clear Channel Outdoor from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Thursday, November 9th. Finally, Scotiabank restated a “sell” rating and set a $12.00 price objective on shares of Clear Channel Outdoor in a research note on Monday, December 4th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.94.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors acquired a new stake in Clear Channel Outdoor during the 2nd quarter valued at approximately $100,000. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Clear Channel Outdoor by 1.4% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,065 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 300 shares during the period. Voya Investment Management LLC lifted its stake in Clear Channel Outdoor by 70.6% during the 2nd quarter. Voya Investment Management LLC now owns 22,912 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 9,485 shares during the period. Balyasny Asset Management LLC acquired a new stake in Clear Channel Outdoor during the 2nd quarter valued at approximately $152,000. Finally, Advisors Asset Management Inc. lifted its stake in Clear Channel Outdoor by 4,583.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 41,493 shares of the business services provider’s stock valued at $193,000 after acquiring an additional 40,607 shares during the period. Institutional investors and hedge funds own 9.47% of the company’s stock.
Clear Channel Outdoor (NYSE:CCO) traded down $0.05 during mid-day trading on Wednesday, reaching $4.35. 81,522 shares of the company were exchanged, compared to its average volume of 127,854. The firm has a market cap of $1,601.53, a PE ratio of 220.00 and a beta of 1.69. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of -4.10. Clear Channel Outdoor has a one year low of $3.35 and a one year high of $6.35.
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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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