The 36-month beta value for CCO is also noteworthy at 3.09. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
The public float for CCO is 409.11M, and at present, short sellers hold a 7.77% of that float. The average trading volume of CCO on June 26, 2024 was 1.83M shares.
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CCO) stock’s latest price update
Clear Channel Outdoor Holdings Inc. (NYSE: CCO) has experienced a decline in its stock price by -0.76 compared to its previous closing price of 1.32. However, the company has seen a fall of -5.07% in its stock price over the last five trading days. prnewswire.com reported 2024-06-20 that PHOENIX, June 20, 2024 /PRNewswire/ — Starting this week, more than 100 digital billboards across the Valley will display critical local heat relief resources, thanks to a partnership between Maricopa County, Clear Channel Outdoor, the Maricopa Association of Governments and the City of Phoenix. Billboards owned by Clear Channel Outdoor will promote 211 Arizona to direct at-risk community members to one of 230+ local heat relief sites that can help them stay cool during Arizona’s dangerous late spring and summer time heat.
CCO’s Market Performance
Clear Channel Outdoor Holdings Inc. (CCO) has seen a -5.07% fall in stock performance for the week, with a -8.39% decline in the past month and a -14.94% plunge in the past quarter. The volatility ratio for the week is 2.86%, and the volatility levels for the past 30 days are at 3.96% for CCO. The simple moving average for the past 20 days is -5.79% for CCO’s stock, with a -13.82% 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 “Overweight.” The predicted price for CCO in the upcoming period, according to Wells Fargo is $2.75 based on the research report published on December 20, 2023 of the previous year 2023.
Wells Fargo, on the other hand, stated in their research note that they expect to see CCO reach a price target of $1.50, previously predicting the price at $4. The rating they have provided for CCO stocks is “Equal Weight” according to the report published on July 08th, 2022.
Barrington Research gave a rating of “Outperform” to CCO, setting the target price at $5 in the report published on November 11th of the previous year.
CCO Trading at -10.04% 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 -36.25% of loss for the given period.
Volatility was left at 3.96%, however, over the last 30 days, the volatility rate increased by 2.86%, as shares sank -9.38% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.22% lower at present.
During the last 5 trading sessions, CCO fell by -5.43%, which changed the moving average for the period of 200-days by -8.74% in comparison to the 20-day moving average, which settled at $1.3837. In addition, Clear Channel Outdoor Holdings Inc. saw -28.02% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CCO starting from PACIFIC INVESTMENT MANAGEMENT, who sale 12,584 shares at the price of $1.55 back on Apr 10 ’24. After this action, PACIFIC INVESTMENT MANAGEMENT now owns 104,859,957 shares of Clear Channel Outdoor Holdings Inc., valued at $19,505 using the latest closing price.
Stock Fundamentals for CCO
Current profitability levels for the company are sitting at:
- 0.13 for the present operating margin
- 0.43 for the gross margin
The net margin for Clear Channel Outdoor Holdings Inc. stands at -0.16. The total capital return value is set at 0.08.
Based on Clear Channel Outdoor Holdings Inc. (CCO), the company’s capital structure generated 2.54 points at debt to capital in total, while cash flow to debt ratio is standing at -0.0. The debt to equity ratio resting at -1.65. The interest coverage ratio of the stock is 1.37.
Currently, EBITDA for the company is 514.89 million with net debt to EBITDA at 23.16. When we switch over and look at the enterprise to sales, we see a ratio of 3.35. The receivables turnover for the company is 5.35for trailing twelve months and the total asset turnover is 0.5. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.03.
Conclusion
In summary, Clear Channel Outdoor Holdings Inc. (CCO) has had a bad 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.
