Is Clear Channel Outdoor Holdings Inc. (NYSE: CCO) A Disaster Waiting To Happen Or Is It A Chance To Make Money?

In the latest trading session, 0.84 million Clear Channel Outdoor Holdings Inc. (NYSE:CCO) shares changed hands as the company’s beta touched 2.64. With the company’s most recent per share price at $1.40 changing hands around $0.05 or 4.07% at last look, the market valuation stands at $678.63M. CCO’s current price is a discount, trading about -52.86% 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 32.14% up since then. When we look at Clear Channel Outdoor Holdings Inc.’s average trading volume, we note the 10-day average is 4.28 million shares, with the 3-month average coming to 3.95 million.

Analysts gave the Clear Channel Outdoor Holdings Inc. (CCO) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.67. 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 $0.04.

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

Instantly CCO is in green as seen in intraday trades today. With action 6.44%, the performance over the past five days has been green. The jump to weekly highs of 1.4900 on Friday, 11/17/23 added 4.07% to the stock’s daily price. The company’s shares are showing year-to-date upside of 33.81%, with the 5-day performance at 6.44% in the green. However, in the 30-day time frame, Clear Channel Outdoor Holdings Inc. (NYSE:CCO) is 27.73% up. Looking at the short shares, we see there were 33.25 million shares sold at short interest cover period of 7.64 days.

The consensus price target for the stock as assigned by Wall Street analysts is $1.83, meaning bulls need an upside of 23.5% from its recent market value. According to analyst projections, CCO’s forecast low is $1.40 with $2.50 as the target high. To hit the forecast high, the stock’s price needs a -78.57% plunge from its current level, while the stock would need to tank 0.0% 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 7.25% over the past 6 months, a -400.00% in annual growth rate that is considerably lower than the industry average of -3.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Clear Channel Outdoor Holdings Inc. will fall -80.00%, while the growth in revenue is estimated to hit -200.00% for the next quarter. Year-over-year growth is forecast to reach -10.00% down from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $612.38 million. 1 analysts are of the opinion that Clear Channel Outdoor Holdings Inc.’s revenue for the quarter ending Mar 2024 will be $460.38 million. The company’s revenue for the corresponding quarters a year ago was $709.16 million and $545.43 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -13.60%. The estimates for the next quarter sales put growth at -15.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 35.22%. The 2023 estimates are for Clear Channel Outdoor Holdings Inc. earnings to decrease by -127.65%, 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 on November 08.

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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