In today’s recent session, 1,741,777 shares of the Clear Channel Outdoor Holdings, Inc.(NYSE:CCO) have been traded, and its beta is 2.61. Most recently the company’s share price was $2.05, and it changed around $0.02 or 0.01% from the last close, which brings the market valuation of the company to $948.24 Million. CCO at last check was trading at a discount to its 52-week high of $2.54, offering almost -23.9% off that amount. The share price’s 52-week low was $0.36, which indicates that the recent value has risen by an impressive 82.44% since then. We note from Clear Channel Outdoor Holdings, Inc.’s average daily trading volume that its 10-day average is 3.4 Million shares, with the 3-month average coming to 3.19 Million.
Clear Channel Outdoor Holdings, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.9. If we narrow it down even further, the data shows that 1 out of 8 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 5 recommended CCO as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Clear Channel Outdoor Holdings, Inc. is expected to report earnings per share of -$0.18 for the current quarter.
Clear Channel Outdoor Holdings, Inc. (NYSE:CCO): Trading Information Today
Instantly CCO has been showing a green trend so far today with a performance of 0.93% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $2.26- on Wednesday, Feb 17 increased the stock’s daily price by 11.28%. The company’s shares are currently up 0.22% year-to-date, but still down -0.076 over the last five days. On the other hand, Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is 0.15% up in the 30-day period. We can see from the shorts that 19.69 Million shares have been sold at a short interest cover period of 6.17 day(s).
The consensus price target as assigned by Wall Street analysts is $2.14, which translates to bears needing to increase their stock price by 4.39% from its current value. Analyst projections state that CCO is forecast to be at a low of $1.5 and a high of $3. In order for the stock price to hit the forecast high, the stock would need to surge +46.34% from its current level, while the stock would need to crash -26.83% from its current level to reach the projected low.
Clear Channel Outdoor Holdings, Inc. (CCO) projections and forecasts
Clear Channel Outdoor Holdings, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +73.5 percent over the past six months and at a -59.09% annual growth rate that is well below the industry average of 0.9%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -400% in revenue this quarter, and will report an increase of 60% in the next quarter. The year-over-year growth rate is expected to be -32.7%, down from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $495.93 Million in revenue for the current quarter. 3 analysts expect Clear Channel Outdoor Holdings, Inc. to make $468.41 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $745.23 Million and $550.81 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -33.5%. Forecasts for the next quarter put sales growth at -15%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 54.88%. Clear Channel Outdoor Holdings, Inc. earnings are expected to decrease by -45.8% in 2021, but the outlook is positive 1% per year for the next five years.
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Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.91% of Clear Channel Outdoor Holdings, Inc. shares, and 94.56% of them are in the hands of institutional investors. The stock currently has a share float of 95.43%. Clear Channel Outdoor Holdings, Inc. stock is held by 185 institutions, with Allianz Asset Management GmbH being the largest institutional investor. By Dec 30, 2020, it held 22.44% of the shares, which is about 104.87 Million shares worth $173.04 Million.
Ares Management LLC, with 7.68% or 35.88 Million shares worth $59.2 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
PIMCO Income Fd and Franklin Mutual Series Fund-Mutual Quest Fund were the top two Mutual Funds as of Sep 29, 2020. The former held 50679773 shares worth $50.68 Million, making up 10.85% of all outstanding shares. On the other hand, Franklin Mutual Series Fund-Mutual Quest Fund held roughly 17.62 Million shares worth around $17.62 Million, which represents about 3.77% of the total shares outstanding.