Clear Channel Outdoor Holdings Inc. (NYSE:CCO)’s traded shares stood at 3.44 million during the last session, with the company’s beta value hitting 2.58. At the close of trading, the stock’s price was $1.11, to imply a decrease of -4.31% or -$0.05 in intraday trading. The CCO share’s 52-week high remains $3.81, putting it -243.24% down since that peak but still an impressive 18.02% since price per share fell to its 52-week low of $0.91. The company has a valuation of $581.23M, with an average of 2.35 million shares in intraday trading volume over the past 10 days and average of 2.70 million shares over the past 3 months.
Analysts have given a consensus recommendation of a Hold for Clear Channel Outdoor Holdings Inc. (CCO), translating to a mean rating of 2.70. Of 6 analyst(s) looking at the stock, 1 analyst(s) give CCO a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.18.
Do You Know The Best Place To Find Gains In Volatile Markets?
In today's chaotic marketplace, the biggest gains will come from some currently-small companies that pass by older, larger businesses still stuck in a pre-pandemic world. The trick is figuring out which small caps will be tomorrow's winners. That's why StockWire News has put together a special Wealth Building Report, highlighting 3 small cap stocks set to soar in 2023.
Click here for full details and to join for free.
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) trade information
After registering a -4.31% downside in the last session, Clear Channel Outdoor Holdings Inc. (CCO) has traded red over the past five days. The stock hit a weekly high of 1.4800 this Wednesday, 03/15/23, dropping -4.31% in its intraday price action. The 5-day price performance for the stock is -25.00%, and -36.21% over 30 days. With these gigs, the year-to-date price performance is 5.71%. Short interest in Clear Channel Outdoor Holdings Inc. (NYSE:CCO) saw shorts transact 37.89 million shares and set a 13.42 days time to cover.
Analysts on Wall Street suggest a consensus price target of $2.13, implying an increase of 47.89% to the stock’s current value. The extremes give us $1.50 and $3.00 for target low and target high price respectively. As such, CCO has been trading -170.27% off suggested target high and -35.14% from its likely low.
Clear Channel Outdoor Holdings Inc. (CCO) estimates and forecasts
Looking at statistics comparing Clear Channel Outdoor Holdings Inc. share performance against respective industry, we note that the company has underperformed competitors. Clear Channel Outdoor Holdings Inc. (CCO) shares are -39.34% down over the last 6 months, with its year-to-date growth rate lower than industry average at -69.23% against -9.30%. Revenue is forecast to grow 5.30% this quarter before jumping 64.30% for the next one. The rating firms project that company’s revenue will grow 5.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 4 analysts is $541.71 million. Meanwhile, for the quarter ending Jun 2023, a total of 4 analyst(s) estimate revenue growth to $659.98 million.Earnings reports from the last fiscal year show that sales brought in $525.69 million and $643.38 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 3.00% before jumping 2.60% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -35.00% for the past 5-year period. While 2023 is set for a 26.20% return in earnings, projections for the next 5 years are at 7.00% annually.
Clear Channel Outdoor Holdings Inc. has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Clear Channel Outdoor Holdings Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Clear Channel Outdoor Holdings Inc. (NYSE:CCO)’s Major holders
Clear Channel Outdoor Holdings Inc. insiders hold 1.86% of total outstanding shares, with institutional holders owning 100.41% of the shares at 102.31% float percentage. In total, 100.41% institutions holds shares in the company, led by Allianz Asset Management GmbH. As of Dec 30, 2022, the company held over 104.87 million shares (or 21.97% of shares), all amounting to roughly $116.41 million.
The next major institution holding the largest number of shares is Ares Management LLC with 49.65 million shares, or about 10.40% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $55.11 million.
We also have PIMCO Income Fd and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Clear Channel Outdoor Holdings Inc. (CCO) shares. Going by data provided on Sep 29, 2022, PIMCO Income Fd holds roughly 50.86 million shares. This is just over 10.68% of the total shares, with a market valuation of $56.46 million. Data from the same date shows that the other fund manager holds a little less at 11.06 million, or 2.32% of the shares, all valued at about 12.28 million.