A Stock You Should Be Looking At: Clear Channel Outdoor Holdings Inc. (NYSE:CCO)

After finishing at $1.06 in the prior trading day, Clear Channel Outdoor Holdings Inc. (NYSE: CCO) closed at $1.09, up 2.83%. In other words, the price has increased by $+0.0300 from its previous closing price. On the day, 1164412 shares were traded. CCO stock price reached its highest trading level at $1.1250 during the session, while it also had its lowest trading level at $1.0400.

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Our goal is to gain a better understanding of CCO by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.00 and its Current Ratio is at 1.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Wells Fargo on July 08, 2022, Downgraded its rating to Equal Weight and sets its target price to $1.50 from $4 previously.

On November 11, 2021, Barrington Research Upgraded its rating to Outperform which previously was Mkt Perform but kept the price unchanged to $5.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Oct 14 when ARES MANAGEMENT LLC bought 200,000 shares for $1.47 per share. The transaction valued at 294,920 led to the insider holds 50,671,580 shares of the business.

ARES MANAGEMENT LLC bought 200,000 shares of CCO for $294,920 on Oct 14. The 10% Owner now owns 50,671,580 shares after completing the transaction at $1.47 per share. On Oct 13, another insider, ARES MANAGEMENT LLC, who serves as the 10% Owner of the company, bought 200,000 shares for $1.59 each. As a result, the insider paid 317,020 and bolstered with 50,471,580 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 0.21.

Stock Price History:

Over the past 52 weeks, CCO has reached a high of $4.10, while it has fallen to a 52-week low of $0.91. The 50-Day Moving Average of the stock is 1.4750, while the 200-Day Moving Average is calculated to be 2.0779.

Shares Statistics:

The stock has traded on average 2.20M shares per day over the past 3-months and 2.57M shares per day over the last 10 days, according to various share statistics. A total of 475.12M shares are outstanding, with a floating share count of 468.56M. Insiders hold about 1.10% of the company’s shares, while institutions hold 99.90% stake in the company. Shares short for CCO as of Oct 13, 2022 were 34.89M with a Short Ratio of 34.50M, compared to 34.23M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 7.33% and a Short% of Float of 9.51%.

Earnings Estimates

Its stock is currently analyzed by 6 different market analysts. On average, analysts expect EPS of -$0.05 for the current quarter, with a high estimate of $0.01 and a low estimate of -$0.09, while EPS last year was -$0.09. The consensus estimate for the next quarter is $0.07, with high estimates of $0.17 and low estimates of $0.02.

Analysts are recommending an EPS of between -$0.15 and -$0.4 for the fiscal current year, implying an average EPS of -$0.3. EPS for the following year is -$0.08, with 5 analysts recommending between $0.27 and -$0.33.

Revenue Estimates

4 analysts predict $601.48M in revenue for the current quarter. It ranges from a high estimate of $615M to a low estimate of $588M. As of the current estimate, Clear Channel Outdoor Holdings Inc.’s year-ago sales were $589.02M, an estimated increase of 2.10% from the year-ago figure. For the next quarter, 4 analysts are estimating revenue of $716.06M, a decrease of -3.60% less than the figure of $2.10% in the same quarter last year. There is a high estimate of $739.65M for the next quarter, whereas the lowest estimate is $685M.

A total of 6 analysts have provided revenue estimates for CCO’s current fiscal year. The highest revenue estimate was $2.55B, while the lowest revenue estimate was $2.46B, resulting in an average revenue estimate of $2.51B. In the same quarter a year ago, actual revenue was $2.24B, up 11.80% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $2.62B in the next fiscal year. The high estimate is $2.69B and the low estimate is $2.48B. The average revenue growth estimate for next year is up 4.40% from the average revenue estimate for this year.