Clear Channel Outdoor Holdings Inc. [CCO] Stock trading around $1.61 per share: What’s Next?

Clear Channel Outdoor Holdings Inc. [NYSE: CCO] stock went on a downward path that fall over -5.29% on Wednesday, amounting to a one-week price decrease of less than -6.94%. The company report on February 21, 2024 at 4:01 PM that Clear Channel Outdoor Holdings, Inc. Announces New Date For 2023 Fourth Quarter Earnings Release and Conference Call.

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) will release 2023 fourth quarter results before the market opens on Monday, February 26, 2024, by 7:00 a.m. and will host a conference call to discuss the results at 8:30 a.m. Eastern Time.  This is a change from the February 27th date announced on January 29, 2024.

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The conference call numbers remain the same and are 866-424-2432 (United States callers) or +1 215-268-9862 (international callers).  A live audio webcast of the conference call will be available on the “Events & Presentations” section of the Company’s website (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 “Financial Info” section of the Company’s website by 7:00 a.m. Eastern Time.

Over the last 12 months, CCO stock dropped by -12.97%. The one-year Clear Channel Outdoor Holdings Inc. stock forecast points to a potential upside of 25.46. The average equity rating for CCO stock is currently 2.33, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $777.65 million, with 476.31 million shares outstanding and 419.92 million shares in the current float. Compared to the average trading volume of 2.46M shares, CCO stock reached a trading volume of 4814180 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $2.16 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 2.33. 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 Overweight, with their previous recommendation back on December 20, 2023. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $4 to $1.50. The new note on the price target was released on July 08, 2022, representing the official price target for Clear Channel Outdoor Holdings Inc. stock. Previously, the target price had yet another raise to $5, while Barrington Research analysts kept a Outperform rating on CCO stock.

The Average True Range (ATR) for Clear Channel Outdoor Holdings Inc. is set at 0.10, with the Price to Sales ratio for CCO stock in the period of the last 12 months amounting to 0.32.

CCO Stock Performance Analysis:

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 -6.94. With this latest performance, CCO shares dropped by -8.00% in over the last four-week period, additionally plugging by 16.67% over the last 6 months – not to mention a drop of -12.97% 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 43.16, with the RSI for the last a single of trading hit 38.90, and the three-weeks RSI is set at 46.00 for Clear Channel Outdoor Holdings Inc. [CCO]. The present Moving Average for the last 50 days of trading for this stock 1.7238, while it was recorded at 1.7540 for the last single week of trading, and 1.4603 for the last 200 days.

Insight into Clear Channel Outdoor Holdings Inc. Fundamentals:

Clear Channel Outdoor Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.84 and a Current Ratio set at 0.84.

CCO Stock EPS

With the latest financial reports released by the company, Clear Channel Outdoor Holdings Inc. posted 0.2/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 400.00%. 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 7.00%.

Clear Channel Outdoor Holdings Inc. [CCO] Institutonal Ownership Details

The top three institutional holders of CCO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CCO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CCO stock with ownership which is approximately 5.8325%.