$425.89 Million in Sales Expected for CLEAR CHANNEL O/SH (NYSE:CCO) This Quarter

Equities analysts predict that CLEAR CHANNEL O/SH (NYSE:CCO) will report sales of $425.89 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for CLEAR CHANNEL O/SH’s earnings, with the lowest sales estimate coming in at $410.47 million and the highest estimate coming in at $441.31 million. CLEAR CHANNEL O/SH posted sales of $653.45 million in the same quarter last year, which suggests a negative year over year growth rate of 34.8%. The firm is expected to report its next earnings results on Wednesday, November 4th.

According to Zacks, analysts expect that CLEAR CHANNEL O/SH will report full-year sales of $1.85 billion for the current fiscal year, with estimates ranging from $1.80 billion to $1.90 billion. For the next year, analysts forecast that the business will post sales of $2.20 billion, with estimates ranging from $2.11 billion to $2.31 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for CLEAR CHANNEL O/SH.

CLEAR CHANNEL O/SH (NYSE:CCO) last released its quarterly earnings data on Friday, August 7th. The business services provider reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.07. The company had revenue of $314.91 million during the quarter, compared to the consensus estimate of $378.53 million.

A number of brokerages have commented on CCO. Citigroup upgraded shares of CLEAR CHANNEL O/SH from a “neutral” rating to a “buy” rating and boosted their price target for the company from $0.90 to $1.60 in a research note on Wednesday, June 24th. Cowen boosted their price target on shares of CLEAR CHANNEL O/SH from $1.50 to $2.20 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Barrington Research restated a “hold” rating on shares of CLEAR CHANNEL O/SH in a research note on Friday, August 14th. Royal Bank of Canada decreased their price target on shares of CLEAR CHANNEL O/SH from $15.00 to $14.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. Finally, Zacks Investment Research lowered shares of CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CLEAR CHANNEL O/SH presently has an average rating of “Hold” and an average price target of $4.98.

Shares of NYSE:CCO traded down $0.02 during mid-day trading on Tuesday, hitting $0.98. The company had a trading volume of 4,166,221 shares, compared to its average volume of 2,814,202. The firm has a fifty day moving average price of $1.18 and a 200 day moving average price of $0.98. The company has a market capitalization of $455.93 million, a PE ratio of -0.75 and a beta of 2.10. CLEAR CHANNEL O/SH has a one year low of $0.36 and a one year high of $3.10.

In other CLEAR CHANNEL O/SH news, major shareholder Pacific Investment Management sold 124,578 shares of the company’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $0.93, for a total transaction of $115,857.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Mason Capital Management LLC lifted its holdings in shares of CLEAR CHANNEL O/SH by 31.4% in the first quarter. Mason Capital Management LLC now owns 30,434,285 shares of the business services provider’s stock worth $19,478,000 after buying an additional 7,266,329 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of CLEAR CHANNEL O/SH by 3.8% in the first quarter. Franklin Resources Inc. now owns 18,017,259 shares of the business services provider’s stock worth $11,532,000 after buying an additional 659,200 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of CLEAR CHANNEL O/SH by 0.5% in the first quarter. BlackRock Inc. now owns 17,252,120 shares of the business services provider’s stock worth $11,041,000 after buying an additional 93,182 shares in the last quarter. Brigade Capital Management LP lifted its holdings in shares of CLEAR CHANNEL O/SH by 85.9% in the first quarter. Brigade Capital Management LP now owns 14,620,868 shares of the business services provider’s stock worth $9,171,000 after buying an additional 6,757,937 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of CLEAR CHANNEL O/SH by 1.3% in the first quarter. JPMorgan Chase & Co. now owns 8,195,429 shares of the business services provider’s stock worth $5,246,000 after buying an additional 103,986 shares in the last quarter. 95.48% of the stock is currently owned by hedge funds and other institutional investors.

CLEAR CHANNEL O/SH Company Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. 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; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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Earnings History and Estimates for CLEAR CHANNEL O/SH (NYSE:CCO)

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