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Friday, September 29, 2023

Clear Channel Outdoor Holdings Inc. (NYSE: CCO): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Clear Channel Outdoor Holdings Inc. (CCO) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.01, or -0.68%, to $1.45. The Clear Channel Outdoor Holdings Inc. has recorded 28,096 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that CLEAR CHANNEL OUTDOOR HOLDINGS, INC. TO PARTICIPATE IN CITI’S 2023 GLOBAL TECHNOLOGY AND GEMS CONFERENCE.

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Stocks Info

CCO belongs to the Communication Services sector of the NYSE while operating in the Advertising Agencies industry. At the end of the last regular session, the stock closed at $1.46 and fluctuated between $1.4600 as its day high and $1.3500 as its day low. The current market capitalization of Clear Channel Outdoor Holdings Inc. is $672.56M. A total of 2.76 million shares were traded on the day, compared to an average of 2.64M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, CCO has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 68 BUYs and 20 SELLs from insiders. Insiders purchased 18,791,213 shares during that period but sold 1,241,303.

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.


Paying dividends generates immediate cash flow for investors and indicates a positive outlook for the company. 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.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for CCO in the last 3 months, the mean price target is $1.78 with high estimates of $2.50 and low estimates of $1.25. In terms of 52-week highs and lows, CCO has a high of $2.14 and a low of $0.95.

As of this writing, CCO has an earnings estimate of -$0.07 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of -$0.05 per share and a lower estimate of -$0.11. The company reported an EPS of -$0.27 in the last quarter, which was -50.00% lower than expectations of -$0.18.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. 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 -$7.08, while its Total Shareholder’s Equity was -$3.19B.

Analysts Opinion

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. 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 3.40.

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