The time has not yet come to remove your chips from the table: Clear Channel Outdoor Holdings Inc. (CCO)

With 14.01 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.74 million shares. During the session, the Advertising Agencies company that operates in wider Communication Services sector, reached to the highest price of $1.5500 whereas the lowest price it dropped to was $1.4800. The 52-week range on CCO shows that it touched its highest point at $2.14 and its lowest point at $0.95 during that stretch. It currently has a 1-year price target of $1.78. Beta for the stock currently stands at 2.57.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CCO was up-trending over the past week, with a rise of 5.59%, but this was up by 5.59% over a month. Three-month performance surged to 18.90% while six-month performance rose 38.53%. The stock lost -17.49% in the past year, while it has gained 43.81% so far this year. A look at the trailing 12-month EPS for CCO yields -0.03 with Next year EPS estimates of -0.23. For the next quarter, that number is -0.07. This implies an EPS growth rate of 78.00% for this year and -15.00% for next year. EPS is expected to grow by 7.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 39.00%.

Float and Shares Shorts:

At present, 482.37 million CCO shares are outstanding with a float of 439.13 million shares on hand for trading. On Aug 30, 2023, short shares totaled 47.25 million, which was 9.78% higher than short shares on Jul 30, 2023. In addition to Mr. Scott R. Wells as the firm’s CEO, Pres & Director, Mr. Brian D. Coleman serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 101.55% of CCO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 71.84% of CCO, in contrast to 35.97% held by mutual funds. Shares owned by individuals account for 25.59%. As the largest shareholder in CCO with 21.72% of the stake, Pacific Investment Management Co holds 104,872,541 shares worth 104,872,541. A second-largest stockholder of CCO, Ares Management LLC, holds 55,829,046 shares, controlling over 11.56% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CCO, holding 42,839,461 shares or 8.87% stake. With a 2.29% stake in CCO, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 11,059,231 shares are owned by the mutual fund manager. The Victory Port. – Floating Rate Fun, which owns about 2.26% of CCO stock, is the second-largest Mutual Fund holder. It holds 10,905,002 shares valued at 15.81 million. Vanguard Small Cap Index Fund holds 1.95% of the stake in CCO, owning 9,397,168 shares worth 13.63 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CCO reported revenue of $643.38M and operating income of $92.74M. The EBITDA in the recently reported quarter was $148.88M and diluted EPS was -$0.14.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CCO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CCO analysts setting a high price target of $2.50 and a low target of $1.25, the average target price over the next 12 months is $1.78. Based on these targets, CCO could surge 65.56% to reach the target high and fall by -17.22% to reach the target low. Reaching the average price target will result in a growth of 17.88% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CCO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 68 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 19,186,829 while 1,120,406 shares were sold.

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