Clear Channel Outdoor Holdings Inc. (NYSE:CCO) does about 2.14M shares in volume on a normal day but saw 6131090 shares change hands in Monday trading. The company now has a market cap of 708.68M USD. Its current market price is $1.69, marking an increase of 11.92% compared to the previous close of $1.51. The 52 week high reached by this stock is $4.10 whilst the lowest price level in 52 weeks is $0.91. The script in recent trading has seen the stock touch a high of $1.73 and a low of $1.48.
Clear Channel Outdoor Holdings Inc. (CCO) has a 20-day trading average at $1.2100 and the current price is -58.78% off the 52-week high compared with 86.35% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.1286 and its 200-day simple moving average is $1.5683. If we look at the stock’s price movements over the week, volatility stands at 10.41%, which decreases to 8.54% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 76.82 to suggest the stock is overbought.
6 analysts observing the Clear Channel Outdoor Holdings Inc. (CCO) stock have set the 12-month price targets for the company’s shares at between $1.10 and $3.00. The consensus objective for the share price is $1.92, suggesting that the stock has a potential upside of 11.98% over the period. The median price target is -12.67% away from the current levels at $1.50.
FactSet Research has provided data showing that 6 brokerages have issued ratings for the stock. 1 analysts have rated it as a sell, while 0 advise that it is a overweight. 2 analysts have rated it as a buy and 3 have advised that investors hold their positions. The consensus recommendation rating is Hold and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 08, 2022 when Wells Fargo downgraded the stock to “Equal Weight” and issued a price target of between $4 and $1.50. Barrington Research upgraded the stock to “Outperform” from Mkt Perform on November 11, 2021 at a price target of $5.
The current price level is 43.52%, 51.38%, and 7.19% away from its SMA20, SMA50, and SMA200 respectively, with the CCO price moving below the 50-day SMA on January 23. Clear Channel Outdoor Holdings Inc. (CCO) stock is up 19.86% over the week and 55.05% over the past month. Its price is 60.95% year-to-date and -45.31% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.08 below consensus estimates by -$0.03. The company’s next earnings report is expected on 05/09/2023, with forecasts estimating quarterly EPS at $0.04 and -$0.38 for whole year. CCO’s earnings per share are forecast to grow by 59.10% this year and 50.00% over next year. Expected sales for next quarter are $525.62 million, which analysts say will come at $2.47 billion for the current fiscal year and next year at $2.56 billion. In addition, estimates put the company’s current quarterly revenue at an average of $702 million.
Its 12-month price target is $1.50. To reach the target analysts have set, the stock logically needs to grow 11.98 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $1.10, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $3.00.
Outstanding shares total 475.61M with insiders holding 1.71% of the shares and institutional holders owning 101.34% of the company’s common stock. The company has a return on investment of -3.50% and return on equity of 4.00%. The beta has a value of 2.32. Price to sales ratio is 0.28.
Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by Victory Port – Floating Rate Fun, which added 4.99 million shares to end up with 9,987,179 shares worth $10.49 million. Vanguard Small Cap Index Fund raise their holdings by 0.12% in the company over the course of the most recent quarter. It now holds a 1.93% position in Clear Channel Outdoor Holdings Inc. thanks to 9.2 million shares amounting to $9.66 million.