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Clear Channel Outdoor Holdings Inc. (NYSE: CCO): Is It A Life-Changing Stock?

In the last trading session, 4.31 million Clear Channel Outdoor Holdings Inc. (NYSE:CCO) shares changed hands as the company’s beta touched 2.56. With the company’s per share price at $1.43 changed hands at -$0.08 or -5.30% during last session, the market valuation stood at $690.56M. CCO’s last price was a discount, traded about -49.65% off its 52-week high of $2.14. The share price had its 52-week low at $0.95, which suggests the last value was 33.57% up since then. When we look at Clear Channel Outdoor Holdings Inc.’s average trading volume, we note the 10-day average is 4.56 million shares, with the 3-month average coming to 2.94 million.

Analysts gave the Clear Channel Outdoor Holdings Inc. (CCO) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 1 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended CCO as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Clear Channel Outdoor Holdings Inc.’s EPS for the current quarter is expected to be -$0.07.

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

Instantly CCO was in red as seen at the end of in last trading. With action 0.70%, the performance over the past five days has been green. The drop to weekly highs of 1.5500 on Monday, 09/18/23 subtracted -5.30% to the stock’s daily price. The company’s shares are showing year-to-date upside of 36.19%, with the 5-day performance at 0.70% in the green. Looking at the short shares, we see there were 47.25 million shares sold at short interest cover period of 14.23 days.

The consensus price target for the stock as assigned by Wall Street analysts is $1.78, meaning bulls need an upside of 19.66% from its current market value. According to analyst projections, CCO’s forecast low is $1.25 with $2.50 as the target high. To hit the forecast high, the stock’s price needs a -74.83% plunge from its current level, while the stock would need to tank 12.59% for it to hit the projected low.

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

Data shows that the Clear Channel Outdoor Holdings Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 31.19% over the past 6 months, a -46.15% in annual growth rate that is considerably lower than the industry average of -13.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Clear Channel Outdoor Holdings Inc. will rise 12.50%, while the growth in revenue is estimated to hit -85.00% for the next quarter. Year-over-year growth is forecast to reach -0.70% down from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $608.8 million. 4 analysts are of the opinion that Clear Channel Outdoor Holdings Inc.’s revenue for the quarter ending Dec 2023 will be $723.11 million. The company’s revenue for the corresponding quarters a year ago was $600.17 million and $709.16 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.40%. The estimates for the next quarter sales put growth at 2.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 39.00%. The 2023 estimates are for Clear Channel Outdoor Holdings Inc. earnings to increase by 78.00%, but the outlook for the next 5-year period is at 7.00% per year.

CCO Dividends

Clear Channel Outdoor Holdings Inc. is expected to release its next quarterly earnings report between November 06 and November 10.

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

If we look at who the major shareholders are, we find that insiders hold 2.51% of Clear Channel Outdoor Holdings Inc. shares while 101.55% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 104.17%. There are 101.55% institutions holding the Clear Channel Outdoor Holdings Inc. stock share, with Allianz Asset Management GmbH the top institutional holder. As of Jun 29, 2023, the company held 21.72% of the shares, roughly 104.87 million CCO shares worth $143.68 million.

Ares Management LLC holds the second largest percentage of outstanding shares, with 11.56% or 55.83 million shares worth $76.49 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were PIMCO Income Fd and Vanguard Total Stock Market Index Fund. With 50.86 million shares estimated at $69.68 million under it, the former controlled 10.53% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.29% of the shares, roughly 11.06 million shares worth around $15.15 million.

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