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Clear Channel (CCO) Affiliate Secures Deal to Boost Growth
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Clear Channel Airports (CCA), a division of Clear Channel Outdoor Holdings, Inc. (CCO - Free Report) , was recently awarded a 10-year contract extension by the Metropolitan Nashville Airport Authority. Per the new agreement, CCA will install an entirely new suit of digital advertising network at Nashville International Airport (BNA) that will include the world’s most advanced, technologically sophisticated state of the art media. The contract started on Nov 1, 2016.
CCA offers BNA a complete digital media program to enable advertisers reach out to 12 million passengers annually. In the prior year, BNA became the fourth fastest growing airport in the U.S. In fiscal 2016, it served 12.2 million passengers. BNA continuously provides new destinations and nonstop options for its travelers, having recently extended its services to San Francisco, Oakland and Seattle.
A market research report by PWC shows that total global out-of-home (OOH) advertising revenue is expected to continue at a CAGR of 4.3% to reach $42.7 billion in 2020. The growth in the global OOH advertising market is likely to have a positive impact on Clear Channel’s revenues, especially since it is currently streamlining its business to focus on this market.
Clear Channelunderperformed the Zacks categorized Advertising and Marketingindustry with a negative average return of 19.5% compared to -6.5% for the latter, over a period of 90 days. In addition, over the same time frame, earnings estimates have fallen by 27.8% for the current year. However, such project wins will have a positive impact on the company's top line, going ahead.
Clear Channel is one of the world’s largest outdoor advertising companies, with more than 650,000 displays in over 35 countries across five continents, including 43 of the 50 largest markets in the U.S. The company offers numerous displays worldwide to meet the advertising needs of its customers. These include a growing digital platform that presently offers over 1,050 digital billboards across 29 U.S. markets. Its International segment operates in 22 countries across Asia, Australia and Europe in a wide variety of formats. Additionally, it operates over 250 airport programs across the world, with presence in 31 of the top 50 U.S markets.
Marin Software has beaten estimates in all the trailing four quarters with an average positive earnings surprise of 47.9%.
Publicis Groupe has a long-term earnings growth expectation of 8% and has an average forward PE of 12.7x.
National CineMedia has a long-term earnings growth expectation of 9% and has an average forward PE of 36.1x.
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Clear Channel (CCO) Affiliate Secures Deal to Boost Growth
Clear Channel Airports (CCA), a division of Clear Channel Outdoor Holdings, Inc. (CCO - Free Report) , was recently awarded a 10-year contract extension by the Metropolitan Nashville Airport Authority. Per the new agreement, CCA will install an entirely new suit of digital advertising network at Nashville International Airport (BNA) that will include the world’s most advanced, technologically sophisticated state of the art media. The contract started on Nov 1, 2016.
CCA offers BNA a complete digital media program to enable advertisers reach out to 12 million passengers annually. In the prior year, BNA became the fourth fastest growing airport in the U.S. In fiscal 2016, it served 12.2 million passengers. BNA continuously provides new destinations and nonstop options for its travelers, having recently extended its services to San Francisco, Oakland and Seattle.
A market research report by PWC shows that total global out-of-home (OOH) advertising revenue is expected to continue at a CAGR of 4.3% to reach $42.7 billion in 2020. The growth in the global OOH advertising market is likely to have a positive impact on Clear Channel’s revenues, especially since it is currently streamlining its business to focus on this market.
Clear Channelunderperformed the Zacks categorized Advertising and Marketingindustry with a negative average return of 19.5% compared to -6.5% for the latter, over a period of 90 days. In addition, over the same time frame, earnings estimates have fallen by 27.8% for the current year. However, such project wins will have a positive impact on the company's top line, going ahead.
Clear Channel is one of the world’s largest outdoor advertising companies, with more than 650,000 displays in over 35 countries across five continents, including 43 of the 50 largest markets in the U.S. The company offers numerous displays worldwide to meet the advertising needs of its customers. These include a growing digital platform that presently offers over 1,050 digital billboards across 29 U.S. markets. Its International segment operates in 22 countries across Asia, Australia and Europe in a wide variety of formats. Additionally, it operates over 250 airport programs across the world, with presence in 31 of the top 50 U.S markets.
Clear Channelcurrently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include Marin Software Incorporated (MRIN - Free Report) , Publicis Groupe SA (PUBGY - Free Report) and National CineMedia, Inc. (NCMI - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Marin Software has beaten estimates in all the trailing four quarters with an average positive earnings surprise of 47.9%.
Publicis Groupe has a long-term earnings growth expectation of 8% and has an average forward PE of 12.7x.
National CineMedia has a long-term earnings growth expectation of 9% and has an average forward PE of 36.1x.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>