Given A -162.82% Drop From High, Can Clear Channel Outdoor Holdings Inc. (NYSE: CCO) Quickly Recover? – Marketing Sentinel
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Given A -162.82% Drop From High, Can Clear Channel Outdoor Holdings Inc. (NYSE: CCO) Quickly Recover?

During the last session, Clear Channel Outdoor Holdings Inc. (NYSE:CCO)’s traded shares were 2.53 million, with the beta value of the company hitting 2.57. At the end of the trading day, the stock’s price was $1.56, reflecting an intraday gain of 6.12% or $0.09. The 52-week high for the CCO share is $4.10, that puts it down -162.82 from that peak though still a striking 41.67% gain since the share price plummeted to a 52-week low of $0.91. The company’s market capitalization is $684.09M, and the average intraday trading volume over the past 10 days was 1.87 million shares, and the average trade volume was 3.13 million shares over the past three months.

Clear Channel Outdoor Holdings Inc. (NYSE:CCO) trade information

Clear Channel Outdoor Holdings Inc. (CCO) registered a 6.12% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.12% in intraday trading to $1.56 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 9.09%, and it has moved by 38.05% in 30 days. Based on these gigs, the overall price performance for the year is -37.35%. The short interest in Clear Channel Outdoor Holdings Inc. (NYSE:CCO) is 28.39 million shares and it means that shorts have 8.53 day(s) to cover.

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The consensus price target of analysts on Wall Street is $2.43, which implies an increase of 35.8% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.25 and $4.00 respectively. As a result, CCO is trading at a discount of -156.41% off the target high and 19.87% off the low.

Clear Channel Outdoor Holdings Inc. (CCO) estimates and forecasts

Statistics show that Clear Channel Outdoor Holdings Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Clear Channel Outdoor Holdings Inc. (CCO) shares have gone down -49.35% during the last six months, with a year-to-date growth rate more than the industry average at 94.62% against 5.90. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 85.20% this quarter and then jump 88.90% in the quarter after that. In the rating firms’ projections, revenue will increase 15.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $645.29 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $657.49 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $505.92 million and $589.02 million respectively. In this case, analysts expect current quarter sales to grow by 27.50% and then jump by 11.60% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -35.00%. While earnings are projected to return 26.20% in 2022, the next five years will return 7.00% per annum.

CCO Dividends

Clear Channel Outdoor Holdings Inc. is due to release its next quarterly earnings between February 23 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Clear Channel Outdoor Holdings Inc. (NYSE:CCO)’s Major holders

Clear Channel Outdoor Holdings Inc. insiders own 1.58% of total outstanding shares while institutional holders control 99.07%, with the float percentage being 100.66%. Allianz Asset Management GmbH is the largest shareholder of the company, while 260 institutions own stock in it. As of Mar 30, 2022, the company held over 105.43 million shares (or 22.18% of all shares), a total value of $364.8 million in shares.

The next largest institutional holding, with 38.0 million shares, is of Ares Management Llc’s that is approximately 7.99% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $131.48 million.

Also, the Mutual Funds coming in first place with the largest holdings of Clear Channel Outdoor Holdings Inc. (CCO) shares are PIMCO Income Fd and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2022 indicates that PIMCO Income Fd owns about 50.86 million shares. This amounts to just over 10.70 percent of the company’s overall shares, with a $175.98 million market value. The same data shows that the other fund manager holds slightly less at 10.45 million, or about 2.20% of the stock, which is worth about $36.14 million.

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