Clear Channel Outdoor Holdings Inc. (NYSE: CCO) is 21.90% higher on its value in year-to-date trading and has touched a low of $0.91 and a high of $2.14 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CCO stock was last observed hovering at around $1.30 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $1.50 for the next 12 months. It is also 48.8% off the consensus price target high of $2.50 offered by 6 analysts, but current levels are -6.67% lower than the price target low of $1.20 for the same period.
Currently trading at $1.28, the stock is 5.61% and 9.33% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.54 million and changing -1.54% at the moment leaves the stock -8.04% off its SMA200. CCO registered -24.26% loss for a year compared to 6-month gain of 17.43%. The firm has a 50-day simple moving average (SMA 50) of $2.94 and a 200-day simple moving average (SMA200) of $12.50.
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The stock witnessed a 6.67% loss in the last 1 month and extending the period to 3 months gives it a -21.95%, and is 3.23% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.15% over the week and 8.33% over the month.
Clear Channel Outdoor Holdings Inc. (CCO) has around 4700 employees, a market worth around $598.22M and $2.50B in sales. Profit margin for the company is -1.70%. Distance from 52-week low is 41.14% and -40.19% from its 52-week high. The company has generated returns on investments over the last 12 months (13.10%).
Clear Channel Outdoor Holdings Inc. (CCO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Clear Channel Outdoor Holdings Inc. (CCO) is a “Hold”. 6 analysts offering their recommendations for the stock have an average rating of 2.70, where 3 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Clear Channel Outdoor Holdings Inc. is expected to release its quarterly report on 08/10/2023.The EPS is expected to grow by 78.00% this year
Clear Channel Outdoor Holdings Inc. (CCO) Top Institutional Holders
The shares outstanding are 498.74M, and float is at 474.06M with Short Float at 8.70%.
Clear Channel Outdoor Holdings Inc. (CCO) Insider Activity
A total of 62 insider transactions have happened at Clear Channel Outdoor Holdings Inc. (CCO) in the last six months, with sales accounting for 13 and purchases happening 49 times. The most recent transaction is an insider purchase by ARES MANAGEMENT LLC, the company’s 10% Owner. SEC filings show that ARES MANAGEMENT LLC bought 500,000 shares of the company’s common stock on Jan 30 at a price of $1.79 per share for a total of $0.9 million. Following the purchase, the insider now owns 55.83 million shares.
Clear Channel Outdoor Holdings Inc. disclosed in a document filed with the SEC on Jan 30 that ARES MANAGEMENT LLC (10% Owner) bought a total of 500,000 shares of the company’s common stock. The trade occurred on Jan 30 and was made at $1.79 per share for $0.9 million. Following the transaction, the insider now directly holds 55.83 million shares of the CCO stock.
Still, SEC filings show that on Jan 27, ARES MANAGEMENT LLC (10% Owner) acquired 525,902 shares at an average price of $1.80 for $0.94 million. The insider now directly holds 55,329,046 shares of Clear Channel Outdoor Holdings Inc. (CCO).