In the last trading session, 3.26 million Clear Channel Outdoor Holdings Inc. (NYSE:CCO) shares changed hands as the company’s beta touched 2.89. With the company’s per share price at $1.54 changed hands at -$0.02 or -1.28% during last session, the market valuation stood at $744.93M. CCO’s last price was a discount, traded about -33.77% off its 52-week high of $2.06. The share price had its 52-week low at $0.99, which suggests the last value was 35.71% up since then. When we look at Clear Channel Outdoor Holdings Inc.’s average trading volume, we note the 10-day average is 3.15 million shares, with the 3-month average coming to 2.32 million.
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 -1.28%, the performance over the past five days has been red. The drop to weekly highs of 1.6600 subtracted -1.28% to the stock’s daily price. The company’s shares are showing year-to-date downside of -15.38%, with the 5-day performance at -1.28% in the red. However, in the 30-day time frame, Clear Channel Outdoor Holdings Inc. (NYSE:CCO) is -22.22% down. Looking at the short shares, we see there were 23.24 million shares sold at short interest cover period of 9.25 days.
Clear Channel Outdoor Holdings Inc. (CCO) estimates and forecasts
Data shows that the Clear Channel Outdoor Holdings Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 0.65% over the past 6 months, a 63.08% in annual growth rate that is considerably higher than the industry average of 8.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Clear Channel Outdoor Holdings Inc. will fall -142.90%, while the growth in revenue is estimated to hit 37.50% for the next quarter. Year-over-year growth is forecast to reach 5.70% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $478.55 million. 5 analysts are of the opinion that Clear Channel Outdoor Holdings Inc.’s revenue for the quarter ending Jun 2024 will be $560.12 million. The company’s revenue for the corresponding quarters a year ago was $545.43 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -12.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 8.15%. The 2024 estimates are for Clear Channel Outdoor Holdings Inc. earnings to increase by 65.59%, 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 May 07 and May 13.
Clear Channel Outdoor Holdings Inc. (NYSE:CCO)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 13.18% of Clear Channel Outdoor Holdings Inc. shares while 88.84% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 102.32%. There are 88.84% institutions holding the Clear Channel Outdoor Holdings Inc. stock share, with Allianz Asset Management GmbH the top institutional holder. As of Dec 30, 2023, the company held 21.68% of the shares, roughly 104.87 million CCO shares worth $161.5 million.
Ares Management LLC holds the second largest percentage of outstanding shares, with 11.54% or 55.83 million shares worth $85.98 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were PIMCO Income Fd and Vanguard Total Stock Market Index Fund. With 50.86 million shares estimated at $78.33 million under it, the former controlled 10.51% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.28% of the shares, roughly 11.02 million shares worth around $16.98 million.
