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Saturday, June 3, 2023

Momentum Is Strong For Clear Channel Outdoor Holdings Inc. (NYSE: CCO)

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Clear Channel Outdoor Holdings Inc. (CCO) shows that investor sentiment remained same, with the stock’s consolidated last price remained same to $1.30. The Clear Channel Outdoor Holdings Inc. has recorded 38,865 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed New Research Shows Airport Advertising is Highly Effective & Drives Frequent Flyers to Act After Ad Exposure.

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Stocks Info

This NYSE-listed company operates within the Advertising Agencies industry segment, falling under the Communication Services sector. At the end of the last regular session, the stock closed at $1.30 and fluctuated between $1.3250 as its day high and $1.2750 as its day low. The current market capitalization of Clear Channel Outdoor Holdings Inc. is $607.57M. A total of 1.31 million shares were traded on the day, compared to an average of 2.50M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, CCO has seen 16 BUY and 11 SELL insider trades, representing the acquisition of 3,483,604 and the disposition of 830,915 shares. Over the last 12 months, there were 79 BUYs and 18 SELLs from insiders. Insiders purchased 22,863,731 shares during that period but sold 1,767,268.

In the most recent transaction, ARES MANAGEMENT LLC bought 500,000 shares of CCO for 1.79 per share on Jan 30. After the transaction, the 10% Owner now owns 55,829,046 company shares. In a previous transaction on Jan 30, ARES MANAGEMENT LLC bought 500,000 shares at 1.79 per share. CCO shares that 10% Owner owns now total 55,829,046.

Among the insiders who bought shares, ARES MANAGEMENT LLC acquired of 525,902 shares on Jan 27 at a per-share price of $1.80. This resulted in the 10% Owner holding 55,329,046 shares of CCO after the transaction. In another insider transaction, ARES MANAGEMENT LLC bought 525,902 shares at $1.80 per share on Jan 27. Company shares held by the 10% Owner now total 55,329,046.


The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. CCO’s most recent ex-dividend date was 11/1/2017 when it declared a $0.0687 quarterly dividend that was paid in cash on 10/31/2017. Previously, the company paid the dividend on 10/5/2017 with an ex-dividend date of 10/6/2017. The CCO stock dividend was $0.0687 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for CCO in the last 3 months, the mean price target is $1.69 with high estimates of $2.50 and low estimates of $1.20. In terms of 52-week highs and lows, CCO has a high of $2.14 and a low of $0.91.

As of this writing, CCO has an earnings estimate of -$0.06 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of -$0.02 per share and a lower estimate of -$0.08. The company reported an EPS of $0.2 in the last quarter, which was 400.00% higher than expectations of $0.04.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. CCO’s latest balance sheet shows that the firm has $410.77M in Cash & Short Term Investments as of fiscal 2021. There were $7.23B in debt and $1.09B in liabilities at the time. Its Book Value Per Share was -$6.71, while its Total Shareholder’s Equity was -$3.19B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CCO is Buy with a score of 3.33.

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