Clear Channel's Affiliate Secures Contract to Boost Growth

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Clear Channel Airports ("CCA") − a unit of Clear Channel Outdoor Holdings Inc. CCO − recently inked a new five-year partnership with an optional five-year extension with the Corpus Christi International Airport ("CCIA"). Per the contract, CCA will provide state of the art advertising solutions.

The latest advertising network will reach over 675,000 annual passengers traveling to the Coastal Bend region of Texas. The network's installation is expected to be completed by July end.

CCIA has been in partnership with CCA for over 15 years. This new deal will enable Clear Channel to provide enhanced passenger experience while offering advertisers valuable coverage. Tourism in the region generates an annual income of $1 billion.

A market research report by PWC shows that total global out-of-home advertising revenues were $36.32 billion in 2014 and is set to witness a CAGR of 4.6% to reach $45.37 billion in 2019. Such project extensions are likely to have a positive impact on Clear Channel's revenues and goodwill, especially since it is currently streamlining its business to focus on this market.

Clear Channel has outperformed the Zacks categorized Advertising and Marketing industry in the last one month. The company reported an average gain of 5.2% against 2.2% decline for the industry. We further expect the company to improve its performance based on its ongoing deals and extensions.

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.

Clear Channel currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include The Interpublic Group of Companies, Inc. IPG , Publicis Groupe S.A. PUBGY and Barloworld Limited BRRAY . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Interpublic Group plc has a long-term earnings growth expectation of 11.62%.

Publicis Groupe has a long-term earnings growth expectation of 9.51%.

Barloworld has a long-term earnings growth expectation of 17.2%.

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Publicis Groupe SA (PUBGY): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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