The stock of Clear Channel Outdoor Holdings Inc. (NYSE:CCO) decreased by -$0.03 on Tuesday to finish at $1.47, down -2.00 percent. The last five days have seen an average of 3,268,440 shares of common stock traded. 16 times new highs were reached in the current year, with a gain of $0.4200. The average number of shares traded over the last 20 days was 3,224,815, while the average volume over the last 50 days totaled 2,600,744.
CCO stock dropped -13.02% since last month. On 07/26/23, the company’s shares reached a one-month low of $1.3800. The stock touched a high of $2.14 on 02/03/23, after rallying from a low of $0.95 in 52 weeks. The price of CCO stock has risen by 40.00% or $0.4200 this year, reaching a new high 16 times. Still, the stock price is down -31.31% from the 52-week high.
Insider Transactions
CCO stock investors should be aware that Clear Channel Outdoor Holdings Inc. (CCO) stock had its last reported insider trading activity 198 days ago on Jan 30. On Jan 30, 10% Owner ARES MANAGEMENT LLC acquired 500,000 shares at $1.79 each. This transaction resulted in the insider spending $897,350. On Jan 30, ARES MANAGEMENT LLC added 500,000 shares at a price of US$1.79. After the transaction, the insider now owns 55,829,046 shares. 10% Owner ARES MANAGEMENT LLC had earlier bought 525,902 shares on Jan 27 for $1.80 a share. The transaction was completed for $944,993.
Valuation Metrics
Company paid $0.0687 per share in dividends, remained unchanged from $0.0687 last year.
Financial Health
For the three months ended June 29, Clear Channel Outdoor Holdings Inc.’s quick ratio was 1.00, while its current ratio was 1.00, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 46.10% percent. Clear Channel Outdoor Holdings Inc.’s EBITDA margin for the year ended June 29 was 35.40%, whereas its operating margin stood at 9.30% for the same period. Based on annual data, it had gross profit of $1.15 billion and revenue of $2.48 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CCO’s return on assets (ROA) during the last 12 months has been -1.90%. There was a 13.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 2.90%.
Earnings Surprise
According to Clear Channel Outdoor Holdings Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $637.24 million, while revenues rose by 17.51% to $709.16 million. It was predicted that Clear Channel Outdoor Holdings Inc.’s quarterly earnings would be -$0.08, but it ended up being -$0.06, beating the consensus by -33.30%. EBITDA was $125.72 million for the quarter. At the end of Clear Channel Outdoor Holdings Inc.’s most recent quarter ended June 29, its liabilities totaled 8.25 billion, while its total debt was $7.14 billion. Equity owned by shareholders amounts to $482.91 million.
Technical Picture
Here’s a quick look at Clear Channel Outdoor Holdings Inc.’s (CCO) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 37.67%, suggesting the stock is Neutral, with a 26.12% historical volatility rate.
The stochastic %K and %D were 20.48% and 25.01% respectively, while the average true range (ATR) was 0.0913. Based on the 14-day stochastic reading of 6.90%, the RSI (14) reading is 43.87%. On the 9-day MACD Oscillator, the stock is at -0.0611, and the 14-day reading is at -0.1136.
Analyst Ratings
Clear Channel Outdoor Holdings Inc. (NYSE: CCO) was downgraded by Wells Fargo to a an Equal weight rating in its latest research report. The stock was previously rated as a an Overweight. Analysts have assigned Clear Channel Outdoor Holdings Inc. (CCO) an Hold rating. CCO is a stock that is recommended for selling by 1 brokerage firm, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is CCO’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.25 and $2.50, with a median target price of $1.50. In analyzing these forecasts, the average price target given by analysts for Clear Channel Outdoor Holdings Inc. (CCO) is $1.80.
