why Clear Channel Outdoor Holdings Inc. [CCO] is a Good Choice for Investors After New Price Target of $2.43

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Clear Channel Outdoor Holdings Inc. [NYSE: CCO] traded at a high on 07/12/22, posting a 5.94 gain after which it closed the day’ session at $1.07. The company report on July 5, 2022 that CLEAR CHANNEL OUTDOOR HOLDINGS, INC. ANNOUNCES DATE FOR 2022 SECOND QUARTER EARNINGS RELEASE AND CONFERENCE CALL.


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Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) will release 2022 second quarter results before the market opens on Tuesday, August 9, 2022, by 7:00 a.m. and will host a conference call to discuss the results at 8:30 a.m. Eastern Time.

The conference call number is 1-844-200-6205 (U.S. callers) and 1-929-526-1599 (international callers), and the access code for both is 285910.  A live audio webcast of the conference call will be available on the “Events and Presentations” section of the Company’s website (www.investor.clearchannel.com).  The related earnings materials, including reconciliations of any non-GAAP financial measures to GAAP financial measures and any other applicable disclosures, will be available on the “Financials” section of the Company’s website after 7:00 a.m. Eastern Time.

The results of the trading session contributed to over 9849134 shares changing hands. Over the past one week, the price volatility of Clear Channel Outdoor Holdings Inc. stands at 12.91% while the volatility over the past one month is 10.96%.

The market cap for CCO stock reached $581.84 million, with 470.57 million shares outstanding and 467.77 million shares in the current float. Compared to the average trading volume of 3.17M shares, CCO reached a trading volume of 9849134 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $2.43 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 2.50. 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.

Wells Fargo have made an estimate for Clear Channel Outdoor Holdings Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on July 08, 2022. The new note on the price target was released on November 11, 2021, 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 0.12, with the Price to Sales ratio for CCO stock in the period of the last 12 months amounting to 0.24.

How has CCO stock performed recently?

Clear Channel Outdoor Holdings Inc. [CCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.31. With this latest performance, CCO shares dropped by -26.21% in over the last four-week period, additionally sinking by -66.56% over the last 6 months – not to mention a drop of -59.32% 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 38.93, with the RSI for the last a single of trading hit 41.14, and the three-weeks RSI is set at 37.05 for Clear Channel Outdoor Holdings Inc. [CCO]. The present Moving Average for the last 50 days of trading for this stock 1.5600, while it was recorded at 1.1220 for the last single week of trading, and 2.8067 for the last 200 days.

Clear Channel Outdoor Holdings Inc. [CCO]: Deeper insight into the fundamentals

Clear Channel Outdoor Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for Clear Channel Outdoor Holdings Inc. [CCO]

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 7.00%.

Insider trade positions for Clear Channel Outdoor Holdings Inc. [CCO]

There are presently around $460 million, or 98.70% 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 105,433,653, which is approximately 0% of the company’s market cap and around 1.80% of the total institutional ownership; ARES MANAGEMENT LLC, holding 37,999,324 shares of the stock with an approximate value of $38.38 million in CCO stocks shares; and VANGUARD GROUP INC, currently with $38.05 million in CCO stock with ownership of nearly 6.749% of the company’s market capitalization.

87 institutional holders increased their position in Clear Channel Outdoor Holdings Inc. [NYSE:CCO] by around 40,235,335 shares. Additionally, 77 investors decreased positions by around 28,865,494 shares, while 41 investors held positions by with 386,021,519 shares. The mentioned changes placed institutional holdings at 455,122,348 shares, according to the latest SEC report filing. CCO stock had 26 new institutional investments in for a total of 13,609,279 shares, while 14 institutional investors sold positions of 5,466,212 shares during the same period.

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