Clear Channel Outdoor Holdings Inc. (NYSE:CCO) – Experts See The Stock A Different Way Today

In the last trading session, 1.17 million shares of the Clear Channel Outdoor Holdings Inc. (NYSE:CCO) were traded, and its beta was 2.89. Most recently the company’s share price was $1.65, and it changed around $0.0 or 0.00% from the last close, which brings the market valuation of the company to $798.14M. CCO currently trades at a discount to its 52-week high of $2.06, offering almost -24.85% off that amount. The share price’s 52-week low was $0.99, which indicates that the current value has risen by an impressive 40.0% since then. We note from Clear Channel Outdoor Holdings Inc.’s average daily trading volume that its 10-day average is 3.29 million shares, with the 3-month average coming to 2.40 million.

Clear Channel Outdoor Holdings Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 2.33. If we narrow it down even further, the data shows that 1 out of 6 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended CCO as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Clear Channel Outdoor Holdings Inc. is expected to report earnings per share of -$0.17 for the current quarter.

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

The performance over the last five days has remained in the green territory. The company’s shares are currently down -9.34% year-to-date, but still up 4.43% over the last five days. On the other hand, Clear Channel Outdoor Holdings Inc. (NYSE:CCO) is -2.94% down in the 30-day period. We can see from the shorts that 23.92 million shares have been sold at a short interest cover period of 8.89 day(s).

The consensus price target as assigned by Wall Street analysts is $3.25, which translates to bulls needing to increase their stock price by 49.23% from its current value. Analyst projections state that CCO is forecast to be at a low of $3.25 and a high of $3.25.

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

Clear Channel Outdoor Holdings Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 7.84 percent over the past six months and at a 63.08% annual growth rate that is well above the industry average of 12.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -142.90% in revenue this quarter, and will report an increase of 37.50% in the next quarter. The year-over-year growth rate is expected to be 5.70%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $478.55 million in revenue for the current quarter. 5 analysts expect Clear Channel Outdoor Holdings Inc. to make $560.12 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -12.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 8.15%. Clear Channel Outdoor Holdings Inc. earnings are expected to increase by 65.59% in 2024, but the outlook is positive 7.00% per year for the next five years.

CCO Dividends

Clear Channel Outdoor Holdings Inc.’s next quarterly earnings report is expected to be released around May 07 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 13.18% of Clear Channel Outdoor Holdings Inc. shares, and 88.84% of them are in the hands of institutional investors. The stock currently has a share float of 102.32%. Clear Channel Outdoor Holdings Inc. stock is held by 210 institutions, with Allianz Asset Management GmbH being the largest institutional investor. By Jun 29, 2023, it held 21.72% of the shares, which is about 104.87 million shares worth $143.68 million.

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

PIMCO Income Fd and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 50.86 million shares worth $69.68 million, making up 10.53% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 11.06 million shares worth around $15.15 million, which represents about 2.29% of the total shares outstanding.