Clear Channel Outdoor Holdings Inc. [NYSE: CCO] surged by $0.18 during the normal trading session on Monday and reaching a high of $2.20 during the day while it closed the day at $2.18. The company report on February 3, 2021 that Clear Channel Outdoor Holdings, Inc. Announces Pricing of Offering of Senior Notes Due 2028.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) announced that it priced an offering (the “Offering”) of $1,000,000,000 aggregate principal amount of 7.750% Senior Notes due 2028 (the “Notes”). The issuance and sale of the Notes is expected to be completed on February 17, 2021, subject to customary closing conditions.
The Notes will be guaranteed on a senior unsecured basis by certain of the Company’s wholly-owned existing and future domestic subsidiaries. The Notes (i) will rank pari passu in right of payment with all existing and future senior indebtedness of the Company, (ii) will be senior in right of payment to all of the future subordinated indebtedness of the Company and the guarantors; (iii) will be effectively subordinated to all of the Company’s existing and future indebtedness secured by a lien, to the extent of the value of such collateral and (iv) will be structurally subordinated to any existing and future obligations of any existing or future subsidiaries of the Company that do not guarantee the Notes, including all of the Company’s foreign subsidiaries.
Clear Channel Outdoor Holdings Inc. stock has also gained 9.00% of its value over the past 7 days. However, CCO stock has inclined by 121.61% in the 3 months of the year. Over the past six months meanwhile, it has gained 129.45% and gained 32.12% year-on date.
The market cap for CCO stock reached $977.95 million, with 464.86 million shares outstanding and 463.07 million shares in the current float. Compared to the average trading volume of 2.77M shares, CCO reached a trading volume of 17694536 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Clear Channel Outdoor Holdings Inc. [CCO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCO shares is $2.02 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCO stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Clear Channel Outdoor Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 05, 2021. The new note on the price target was released on November 02, 2020, representing the official price target for Clear Channel Outdoor Holdings Inc. stock.
The Average True Range (ATR) for Clear Channel Outdoor Holdings Inc. is set at 0.16, with the Price to Sales ratio for CCO stock in the period of the last 12 months amounting to 0.48.
CCO stock trade performance evaluation
Clear Channel Outdoor Holdings Inc. [CCO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.00. With this latest performance, CCO shares gained by 31.33% in over the last four-week period, additionally plugging by 129.45% over the last 6 months – not to mention a drop of -18.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCO stock in for the last two-week period is set at 69.71, with the RSI for the last a single of trading hit 73.33, and the three-weeks RSI is set at 67.50 for Clear Channel Outdoor Holdings Inc. [CCO]. The present Moving Average for the last 50 days of trading for this stock 1.63, while it was recorded at 2.02 for the last single week of trading, and 1.21 for the last 200 days.
Clear Channel Outdoor Holdings Inc. [CCO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Clear Channel Outdoor Holdings Inc. [CCO] shares currently have an operating margin of +9.58 and a Gross Margin at +34.37. Clear Channel Outdoor Holdings Inc.’s Net Margin is presently recorded at -13.54.
Return on Total Capital for CCO is now 6.25, given the latest momentum, and Return on Invested Capital for the company is -9.69. Additionally, CCO Total Debt to Total Capital is recorded at 145.34, with Total Debt to Total Assets ending up at 102.43.
Reflecting on the efficiency of the workforce at the company, Clear Channel Outdoor Holdings Inc. [CCO] managed to generate an average of -$61,577 per employee. Receivables Turnover for the company is 3.77 with a Total Asset Turnover recorded at a value of 0.46.Clear Channel Outdoor Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.
Earnings per share (EPS) analysis for Clear Channel Outdoor Holdings Inc. [CCO] stock
With the latest financial reports released by the company, Clear Channel Outdoor Holdings Inc. posted 0.06/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CCO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Clear Channel Outdoor Holdings Inc. go to 1.00%.
Clear Channel Outdoor Holdings Inc. [CCO]: Insider Ownership positions
There are presently around $965 million, or 94.60% of CCO stock, in the hands of institutional investors. The top three institutional holders of CCO stocks are: ALLIANZ ASSET MANAGEMENT GMBH with ownership of 104,872,541, which is approximately -0.133% of the company’s market cap and around 0.70% of the total institutional ownership; MASON CAPITAL MANAGEMENT LLC, holding 35,830,285 shares of the stock with an approximate value of $78.11 million in CCO stocks shares; and ARES MANAGEMENT LLC, currently with $75.6 million in CCO stock with ownership of nearly 9.477% of the company’s market capitalization.
Positions in Clear Channel Outdoor Holdings Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 55 institutional holders increased their position in Clear Channel Outdoor Holdings Inc. [NYSE:CCO] by around 27,003,769 shares. Additionally, 54 investors decreased positions by around 17,313,291 shares, while 40 investors held positions by with 398,565,036 shares. The mentioned changes placed institutional holdings at 442,882,096 shares, according to the latest SEC report filing. CCO stock had 22 new institutional investments in for a total of 4,304,943 shares, while 14 institutional investors sold positions of 6,676,058 shares during the same period.