Could Clear Channel Outdoor Holdings Inc. (CCO) stock price achieve new all-time highs if its expected earnings and revenue increase?

In yesterday’s Wall Street session, Clear Channel Outdoor Holdings Inc. (NYSE:CCO) shares traded at $1.30, up 15.04% from the previous session.

As of this writing, 6 analysts cover Clear Channel Outdoor Holdings Inc. (NYSE:CCO). 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 $1.13, this indicates a potential upside of 32.74 percent. CCO stock price is now -0.79% away from the 50-day moving average and -6.35% away from the 200-day moving average. The market capitalization of the company currently stands at $627.78M.

There are 3 analysts who have given it a hold rating, whereas 2 have given it a buy rating. 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 $72.58 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 $72.58 million. Insiders disposed of 1,160,056 shares of company stock worth roughly $1.51 million over the past 1 year. A total of 10.66% of the company’s stock is owned by insiders.

Wednesday morning saw Clear Channel Outdoor Holdings Inc. (NYSE: CCO) opened at $1.1300. 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 $1.3104 and a two-hundred day moving average price translates $1.3882 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 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 $594.92M in revenue.

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.

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