The 36-month beta value for CCO is also noteworthy at 2.57. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 0 rating it as “overweight,” 3 rating it as “hold,” and 1 rating it as “sell.”
The average price estimated by analysts for CCO is $1.78, which is $0.27 above than the current price. The public float for CCO is 439.13M, and at present, short sellers hold a 10.76% of that float. The average trading volume of CCO on September 18, 2023 was 2.74M shares.
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CCO) stock’s latest price update
The stock price of Clear Channel Outdoor Holdings Inc. (NYSE: CCO) has plunged by 0.00 when compared to previous closing price of 1.51, but the company has seen a 5.59% gain in its stock price over the last five trading sessions. Seeking Alpha reported 2023-09-14 that Hold rating recommended for Clear Channel Outdoor due to uncertainty in near-term performance and lack of confidence in macroeconomic recovery. Clear Channel Outdoor provides out-of-home display advertising, but faces competition from online advertising, which is taking a larger share of the market. The airport segment, while performing well recently, may face challenges from rent abatements and tough year-over-year comparisons.
CCO’s Market Performance
Clear Channel Outdoor Holdings Inc. (CCO) has seen a 5.59% rise in stock performance for the week, with a 5.59% gain in the past month and a 18.90% surge in the past quarter. The volatility ratio for the week is 4.80%, and the volatility levels for the past 30 days are at 5.94% for CCO. The simple moving average for the past 20 days is 5.41% for CCO’s stock, with a 10.79% simple moving average for the past 200 days.
Analysts’ Opinion of CCO
Many brokerage firms have already submitted their reports for CCO stocks, with Wells Fargo repeating the rating for CCO by listing it as a “Equal Weight.” The predicted price for CCO in the upcoming period, according to Wells Fargo is $1.50 based on the research report published on July 08, 2022 of the previous year 2022.
CCO Trading at -0.72% from the 50-Day Moving Average
After a stumble in the market that brought CCO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -29.44% of loss for the given period.
Volatility was left at 5.94%, however, over the last 30 days, the volatility rate increased by 4.80%, as shares surge +5.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.42% upper at present.
During the last 5 trading sessions, CCO rose by +5.59%, which changed the moving average for the period of 200-days by +51.00% in comparison to the 20-day moving average, which settled at $1.4365. In addition, Clear Channel Outdoor Holdings Inc. saw 43.81% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CCO starting from ARES MANAGEMENT LLC, who purchase 500,000 shares at the price of $1.79 back on Jan 30. After this action, ARES MANAGEMENT LLC now owns 55,829,046 shares of Clear Channel Outdoor Holdings Inc., valued at $897,350 using the latest closing price.
ARES MANAGEMENT LLC, the 10% Owner of Clear Channel Outdoor Holdings Inc., purchase 500,000 shares at $1.79 during a trade that took place back on Jan 30, which means that ARES MANAGEMENT LLC is holding 55,829,046 shares at $897,350 based on the most recent closing price.
Stock Fundamentals for CCO
Current profitability levels for the company are sitting at:
- +11.68 for the present operating margin
- +36.34 for the gross margin
The net margin for Clear Channel Outdoor Holdings Inc. stands at -3.89. The total capital return value is set at 7.33, while invested capital returns managed to touch -2.66. Equity return is now at value 0.40, with -0.30 for asset returns.
When we switch over and look at the enterprise to sales, we see a ratio of 3.03, with the company’s debt to enterprise value settled at 0.97. The receivables turnover for the company is 3.93 and the total asset turnover is 0.44. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.00.
Conclusion
In summary, Clear Channel Outdoor Holdings Inc. (CCO) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
