Clear Channel Outdoor Holdings Inc. [NYSE: CCO] loss -6.58% on the last trading session, reaching $2.27 price per share at the time. The company report on May 18, 2021 that Clear Channel Outdoor Holdings, Inc. Announces Pricing Of Offering Of Senior Notes Due 2029.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) announced that it priced an offering (the “Offering”) of $1,050,000,000 aggregate principal amount of 7.500% Senior Notes due 2029 (the “Notes”). The issuance and sale of the Notes is expected to be completed on June 1, 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. represents 470.83 million in outstanding shares, while the company has a total market value of $1.07 billion with the latest information. CCO stock price has been found in the range of $2.21 to $2.38.
If compared to the average trading volume of 2.94M shares, CCO reached a trading volume of 1410948 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $2.34 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 0.18, with the Price to Sales ratio for CCO stock in the period of the last 12 months amounting to 0.52.
Trading performance analysis for CCO stock
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 3.65. With this latest performance, CCO shares gained by 15.23% in over the last four-week period, additionally plugging by 81.60% over the last 6 months – not to mention a rise of 148.25% 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 49.87, with the RSI for the last a single of trading hit 47.50, and the three-weeks RSI is set at 51.49 for Clear Channel Outdoor Holdings Inc. [CCO]. The present Moving Average for the last 50 days of trading for this stock 2.15, while it was recorded at 2.27 for the last single week of trading, and 1.59 for the last 200 days.
Clear Channel Outdoor Holdings Inc. [CCO]: A deeper dive into fundamental analysis
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 -8.77 and a Gross Margin at +21.10. Clear Channel Outdoor Holdings Inc.’s Net Margin is presently recorded at -31.42.
Return on Total Capital for CCO is now -3.42, given the latest momentum, and Return on Invested Capital for the company is -13.62. Additionally, CCO Total Debt to Total Capital is recorded at 162.57, with Total Debt to Total Assets ending up at 117.56.
Reflecting on the efficiency of the workforce at the company, Clear Channel Outdoor Holdings Inc. [CCO] managed to generate an average of -$121,404 per employee. Receivables Turnover for the company is 3.11 with a Total Asset Turnover recorded at a value of 0.28.Clear Channel Outdoor Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Clear Channel Outdoor Holdings Inc. [CCO]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Clear Channel Outdoor Holdings Inc. posted -0.3/share EPS, while the average EPS was predicted by analysts to be reported at -0.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.10%. 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%.
An analysis of insider ownership at Clear Channel Outdoor Holdings Inc. [CCO]
There are presently around $1,015 million, or 95.70% 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% of the company’s market cap and around 1.20% of the total institutional ownership; ARES MANAGEMENT LLC, holding 42,049,772 shares of the stock with an approximate value of $95.45 million in CCO stocks shares; and VANGUARD GROUP INC, currently with $74.05 million in CCO stock with ownership of nearly 5.311% of the company’s market capitalization.
Positions in Clear Channel Outdoor Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 66 institutional holders increased their position in Clear Channel Outdoor Holdings Inc. [NYSE:CCO] by around 52,068,453 shares. Additionally, 55 investors decreased positions by around 49,437,708 shares, while 35 investors held positions by with 345,695,903 shares. The mentioned changes placed institutional holdings at 447,202,064 shares, according to the latest SEC report filing. CCO stock had 22 new institutional investments in for a total of 17,108,531 shares, while 18 institutional investors sold positions of 17,489,790 shares during the same period.