Clear Channel Outdoor Holdings Inc. (NYSE:CCO) saw a downside of -3.57% to close Monday at $1.62 after subtracting -$0.06 on the day. The 5-day average trading volume is 4,648,520 shares of the company’s common stock. It has gained $1.8750 in the past week and touched a new high 1 time within the past 5 days. An average of 2,848,875 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,409,412.
CCO’s 1-month performance is 6.58% or $0.1000 on its low of $1.3800 reached on 07/26/23. The company’s shares have touched a 52-week low of $0.95 and high of $2.14, with the stock’s rally to the 52-week high happening on 02/03/23. YTD, CCO has achieved 54.29% or $0.5700 and has reached a new high 16 times. However, the current price is down -24.30% from the 52-week high price.
Valuation Metrics
CCO stock has a beta of 2.54. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.31.
Clear Channel Outdoor Holdings Inc.’s quick ratio for the period ended March 30 was 1.00, with the current ratio over the same period at 1.00. In terms of profitability, the gross margin trailing 12 months is 46.10%. The trailing 12-month EBITDA margin is 35.40% while for the period ending March 30, Clear Channel Outdoor Holdings Inc.’s operating margin was 12.00%. The firm’s gross profit as reported stood at $1.15 billion against revenue of $2.48 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -140.94% to -$37.3 million, while revenue of $98.69 million was 364.58% off the previous quarter. Analysts expected CCO to announce -$0.18 per share in earnings in its latest quarter, but it posted -$0.27, representing a -50.00% surprise. EBITDA for the quarter stood at more than $139.12 million. CCO stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 8.28 billion, with total debt at $7.16 billion. Shareholders hold equity totaling $482.84 million.
Let’s look briefly at Clear Channel Outdoor Holdings Inc. (CCO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 50.36% to suggest the stock is trending Neutral, with historical volatility in this time period at 77.48%.
The stock’s 5-day moving average is $1.6900, reflecting a -10.00% or -$0.1800 change from its current price. CCO is currently trading +5.88% above its 20-day SMA, +39.66% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +26.56% and SMA200 by-5.81%.
Stochastic %K and %D was 55.22% and 61.05% and the average true range (ATR) pointed at 0.1170. The RSI (14) points at 53.31%, while the 14-day stochastic is at 48.48% with the period’s ATR at 0.1112. The stock’s 9-day MACD Oscillator is pointing at -0.0056 and 0.0362 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Clear Channel Outdoor Holdings Inc. (NYSE: CCO), Wells Fargo downgraded it to an Equal weight rating. They previously had an Overweight rating on the stock. Analysts offering their rating for CCO stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate CCO as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.
What is CCO’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $1.25 and a high of $2.50, with their median price target at $1.50. Looking at these predictions, the average price target given by analysts is for Clear Channel Outdoor Holdings Inc. (CCO) stock is $1.85.
