Clear Channel Outdoor Holdings Inc. (NYSE: CCO)’s stock price has soared by 0.60 in relation to previous closing price of 1.68. Nevertheless, the company has seen a loss of -6.11% in its stock price over the last five trading days. prnewswire.com reported 2024-07-08 that SAN ANTONIO, July 8, 2024 /PRNewswire/ — Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) will release 2024 second quarter results before the market opens on Wednesday, August 7, 2024, by 7:00 a.m. and will host a conference call to discuss the results at 8:30 a.m.
Is It Worth Investing in Clear Channel Outdoor Holdings Inc. (NYSE: CCO) Right Now?
The 36-month beta value for CCO is at 3.10. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 3 as “hold,” and 0 as “sell.”
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The public float for CCO is 353.28M, and currently, shorts hold a 9.18% of that float. The average trading volume for CCO on July 23, 2024 was 1.78M shares.
CCO’s Market Performance
CCO stock saw an increase of -6.11% in the past week, with a monthly gain of 22.46% and a quarterly increase of 13.42%. The volatility ratio for the week is 5.19%, and the volatility levels for the last 30 days are 4.34% for Clear Channel Outdoor Holdings Inc. (CCO). The simple moving average for the last 20 days is 8.79% for CCO’s stock, with a simple moving average of 10.51% for the last 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 12.82% 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 -17.76% of loss for the given period.
Volatility was left at 4.34%, however, over the last 30 days, the volatility rate increased by 5.19%, as shares surge +27.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.74% upper at present.
During the last 5 trading sessions, CCO fell by -6.11%, which changed the moving average for the period of 200-days by +19.86% in comparison to the 20-day moving average, which settled at $1.5715. In addition, Clear Channel Outdoor Holdings Inc. saw -7.14% 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 3.43. 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 conclusion, Clear Channel Outdoor Holdings Inc. (CCO) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
