Clear Channel Outdoor Holdings Inc. (NYSE:CCO) finished Friday with an addition of $0.01 to close at $1.39, an upside of 0.72 percent. An average of 2,481,040 shares of common stock have been traded in the last five days. There was a fall of -$0.0800 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 3,503,165 shares traded, while the 50-day average volume stands at 2,685,118.
CCO stock has decreased by -11.46% in the last month. The company shares reached their 1-month lowest point of $1.3300 on 08/21/23. With the stock rallying to its 52-week high on 02/03/23, shares of the company touched a low of $0.95 and a high of $2.14 in 52 weeks. It has reached a new high 16 times so far this year and achieved 32.38% or $0.3400 in price. In spite of this, the price is down -35.05% from the 52-week high.
Valuation Metrics
Clear Channel Outdoor Holdings Inc. (CCO) stock’s beta is 2.58. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.26.
Financial Health
The quick ratio of Clear Channel Outdoor Holdings Inc. for the three months ended June 29 was 1.00, and the current ratio was 1.00, indicating that the company is able to meet its debt obligations. Clear Channel Outdoor Holdings Inc.’s EBITDA margin for the year ending June 29 is 35.40%, while its operating margin for the same period stands at 9.30%. Its gross profit as reported stood at $1.15 billion compared to revenue of $2.48 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Clear Channel Outdoor Holdings Inc.’s return on assets was -1.90%.
Earnings Surprise
For the three-month period that ended June 29, Clear Channel Outdoor Holdings Inc. had $5.56 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$37.3 million in the quarter, while revenues of -$34.91 million were shrunk -76.03%. The analyst consensus anticipated Clear Channel Outdoor Holdings Inc.’s latest quarter earnings to come in at -$0.06 per share, but it turned out to be -$0.08, a -33.30% surprise. For the quarter, EBITDA amounted to $125.72 million. Shareholders own equity worth $482.91 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Clear Channel Outdoor Holdings Inc. (CCO) price momentum. RSI 9-day as of the close on 25 August was 36.17%, suggesting the stock is Neutral, with historical volatility in this time frame at 39.50%.
As of today, CCO’s price is $1.3860 -5.44% or -$0.0800 from its 5-day moving average. CCO is currently trading -17.26% lower than its 20-day SMA and +17.80% higher than its 100-day SMA. However, the stock’s current price level is +11.20% above the SMA50 and +14.88% above the SMA200.
The stochastic %K and %D were 17.95% and 15.66%, respectively, and the average true range (ATR) was 0.0777. With the 14-day stochastic at 20.00% and the average true range at 0.0843, the RSI (14) stands at 40.74%. The stock has reached -0.0244 on the 9-day MACD Oscillator while the 14-day reading was at -0.0636.
Analyst Ratings
Wells Fargo downgraded Clear Channel Outdoor Holdings Inc. (NYSE: CCO) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as an Overweight. The consensus rating for Clear Channel Outdoor Holdings Inc. (CCO) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell CCO, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is CCO’s price target for the next 12 months?
Analysts predict a range of price targets between $1.25 and $2.50, with a median target of $1.50. Taking a look at these predictions, the average price target given by analysts for Clear Channel Outdoor Holdings Inc. (CCO) stock is $1.80.
