Are analysts optimistic about Clear Channel Outdoor Holdings Inc.’s (NYSE:CCO) stock?

Clear Channel Outdoor Holdings Inc. (NYSE: CCO) closed the day trading at $1.16 down -1.69% from the previous closing price of $1.18. In other words, the price has decreased by -$0.0200 from its previous closing price. On the day, 2598652 shares were traded. CCO stock price reached its highest trading level at $1.2900 during the session, while it also had its lowest trading level at $1.1400.

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For a better understanding of CCO, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.90 and its Current Ratio is at 0.90.

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 Jan 30 when ARES MANAGEMENT LLC bought 500,000 shares for $1.79 per share. The transaction valued at 897,350 led to the insider holds 55,829,046 shares of the business.

ARES MANAGEMENT LLC bought 500,000 shares of CCO for $897,350 on Jan 30. The 10% Owner now owns 55,829,046 shares after completing the transaction at $1.79 per share. On Jan 27, another insider, ARES MANAGEMENT LLC, who serves as the 10% Owner of the company, bought 525,902 shares for $1.80 each. As a result, the insider paid 944,993 and bolstered with 55,329,046 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 0.24.

Stock Price History:

Over the past 52 weeks, CCO has reached a high of $3.81, while it has fallen to a 52-week low of $0.91. The 50-Day Moving Average of the stock is 1.5632, while the 200-Day Moving Average is calculated to be 1.4258.

Shares Statistics:

Over the past 3-months, CCO traded about 2.68M shares per day on average, while over the past 10 days, CCO traded about 2.25M shares per day. A total of 475.61M shares are outstanding, with a floating share count of 470.04M. Shares short for CCO as of Jan 30, 2023 were 38.18M with a Short Ratio of 37.89M, compared to 33.08M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 8.02% and a Short% of Float of 10.41%.

Earnings Estimates

Current recommendations for the stock of the company come from 6 analysts. On average, analysts expect EPS of $0.04 for the current quarter, with a high estimate of $0.09 and a low estimate of -$0.06, while EPS last year was $0.13. The consensus estimate for the next quarter is -$0.17, with high estimates of -$0.13 and low estimates of -$0.27.

Analysts are recommending an EPS of between -$0.32 and -$0.47 for the fiscal current year, implying an average EPS of -$0.38. EPS for the following year is -$0.19, with 6 analysts recommending between $0.04 and -$0.54.

Revenue Estimates

4 analysts predict $702M in revenue for the current quarter. It ranges from a high estimate of $709.71M to a low estimate of $696M. As of the current estimate, Clear Channel Outdoor Holdings Inc.’s year-ago sales were $742.71M, an estimated decrease of -5.50% from the year-ago figure.

A total of 6 analysts have provided revenue estimates for CCO’s current fiscal year. The highest revenue estimate was $2.48B, while the lowest revenue estimate was $2.47B, resulting in an average revenue estimate of $2.47B. In the same quarter a year ago, actual revenue was $2.24B, up 10.40% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $2.56B in the next fiscal year. The high estimate is $2.65B and the low estimate is $2.47B. The average revenue growth estimate for next year is up 3.60% from the average revenue estimate for this year.