In yesterday’s Wall Street session, Clear Channel Outdoor Holdings Inc. (NYSE:CCO) shares traded at $1.51, unchanged from the previous session.
6 analysts cover Clear Channel Outdoor Holdings Inc. (NYSE:CCO), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $2.50 and a low of $1.25, we find $1.50. Given the previous closing price of $1.51, this indicates a potential downside of -0.66 percent. CCO stock price is now -0.72% away from the 50-day moving average and 10.79% away from the 200-day moving average. The market capitalization of the company currently stands at $729.19M.
The stock has received a hold rating from 3 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $1.78 as their price target over the next twelve months.
With the price target reduced from $4 to $1.50, Wells Fargo Downgraded its rating from Overweight to Equal Weight for Clear Channel Outdoor Holdings Inc. (NYSE: CCO).
In other news, ARES MANAGEMENT LLC, 10% Owner bought 500,000 shares of the company’s stock on Jan 30. The stock was bought for $897,350 at an average price of $1.79. Upon completion of the transaction, the 10% Owner now directly owns 55,829,046 shares in the company, valued at $84.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 30, 10% Owner ARES MANAGEMENT LLC bought 500,000 shares of the business’s stock. A total of $897,350 was incurred on buying the stock at an average price of $1.79. This leaves the insider owning 55,829,046 shares of the company worth $84.3 million. Insiders disposed of 1,120,406 shares of company stock worth roughly $1.69 million over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CCO stock. A new stake in Clear Channel Outdoor Holdings Inc. shares was purchased by NORGES BANK during the first quarter worth $3,733,000. SHENKMAN CAPITAL MANAGEMENT INC invested $1,506,000 in shares of CCO during the first quarter. In the first quarter, POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in Clear Channel Outdoor Holdings Inc. valued at approximately $1,080,000. JANE STREET GROUP, LLC acquired a new stake in CCO for approximately $415,000. LAZARD ASSET MANAGEMENT LLC purchased a new stake in CCO valued at around $230,000 in the second quarter. In total, there are 233 active investors with 101.55% ownership of the company’s stock.
On Friday morning Clear Channel Outdoor Holdings Inc. (NYSE: CCO) stock kicked off with the opening price of $1.5000. During the past 12 months, Clear Channel Outdoor Holdings Inc. has had a low of $0.95 and a high of $2.14. The fifty day moving average price for CCO is $1.5236 and a two-hundred day moving average price translates $1.3655 for the stock.
The latest earnings results from Clear Channel Outdoor Holdings Inc. (NYSE: CCO) was released for Jun, 2023. According to the Advertising Agencies Company, earnings per share came in at -$0.08, missing analysts’ expectations of -$0.06 by -0.02. This compares to -$0.14 EPS in the same period last year. The net profit margin was -0.50% and return on equity was 0.40% for CCO. The company reported revenue of $637.24 million for the quarter, compared to $643.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.95 percent. For the current quarter, analysts expect CCO to generate $608.8M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/24/2018. Investors who held shares on 01/19/2018 were paid a $0.0824 dividend.
Clear Channel Outdoor Holdings Inc.(CCO) Company Profile
Clear Channel Outdoor Holdings, Inc. operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, Europe-South, and Other segments. The company offers advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, newsracks, and other public structures; transit displays, which are advertising surfaces within the common areas of rail stations and on various types of vehicles; and airport advertising displays. It also sells street furniture equipment; provides cleaning and maintenance services; and operates public bike programs, a public bicycle rental program that offers bicycles for rent to the general public in various municipalities. The company was formerly known as Eller Media Company and changed its name to Clear Channel Outdoor Holdings, Inc. in August 2005. Clear Channel Outdoor Holdings, Inc. was founded in 1901 and is headquartered in San Antonio, Texas.
