A Detailed Analysis Of Clear Channel Outdoor Holdings Inc. (CCO)

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Clear Channel Outdoor Holdings Inc. (NYSE:CCO) has a beta value of 2.49 and has seen 1.83 million shares traded in the last trading session. The company, currently valued at $475.30M, closed the last trade at $1.06 per share which meant it gained $0.06 on the day or 6.00% during that session. The CCO stock price is -286.79% off its 52-week high price of $4.10 and 14.15% above the 52-week low of $0.91. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.15 million shares traded. The 3-month trading volume is 3.34 million shares.

The consensus among analysts is that Clear Channel Outdoor Holdings Inc. (CCO) is a Hold stock at the moment, with a recommendation rating of 2.50. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 6 have rated it as a Hold, with 2 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.04.

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Sporting 6.00% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 07/15/22 when the CCO stock price touched $1.06 or saw a rise of 8.62%. Year-to-date, Clear Channel Outdoor Holdings Inc. shares have moved -67.98%, while the 5-day performance has seen it change -4.50%. Over the past 30 days, the shares of Clear Channel Outdoor Holdings Inc. (NYSE:CCO) have changed -9.40%. Short interest in the company has seen 26.89 million shares shorted with days to cover at 12.09.

Wall Street analysts have a consensus price target for the stock at $2.43, which means that the shares’ value could jump 56.38% from current levels. The projected low price target is $1.25 while the price target rests at a high of $4.00. In that case, then, we find that the current price level is -277.36% off the targeted high while a plunge would see the stock gain -17.92% from current levels.

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

Figures show that Clear Channel Outdoor Holdings Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -67.78% over the past 6 months, with this year growth rate of 95.70%, compared to 6.60% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 85.20% and 100.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 16.40%.

4 analysts offering their estimates for the company have set an average revenue estimate of $643.95 million for the current quarter. 4 have an estimated revenue figure of $665.03 million for the next quarter concluding in Sep 2022. Year-ago sales stood $505.92 million and $589.02 million respectively for this quarter and the next, and analysts expect sales will grow by 27.30% for the current quarter and 12.90% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -35.00% over the past 5 years. Earnings growth for 2022 is a modest 26.20% while over the next 5 years, the company’s earnings are expected to increase by 7.00%.

CCO Dividends

Clear Channel Outdoor Holdings Inc. is expected to release its next earnings report between February 23 and February 28 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 1.59% of the company shares, while shares held by institutions stand at 96.70% with a share float percentage of 98.26%. Investors are also buoyed by the number of investors in a company, with Clear Channel Outdoor Holdings Inc. having a total of 262 institutions that hold shares in the company. The top two institutional holders are Allianz Asset Management GmbH with over 105.43 million shares worth more than $348.99 million. As of Dec 30, 2021, Allianz Asset Management GmbH held 22.18% of shares outstanding.

The other major institutional holder is Ares Management Llc, with the holding of over 46.77 million shares as of Dec 30, 2021. The firm’s total holdings are worth over $154.82 million and represent 9.84% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are PIMCO Income Fd and Vanguard Total Stock Market Index Fund. As of Dec 30, 2021, the former fund manager holds about 10.70% shares in the company for having 50.86 million shares of worth $168.36 million while later fund manager owns 10.06 million shares of worth $33.31 million as of Dec 30, 2021, which makes it owner of about 2.12% of company’s outstanding stock.