Clear Channel Outdoor Holdings Inc. (NYSE: CCO)’s Stock Hinders -2.48%, But It May Be A Worthy Investment

The trading price of Clear Channel Outdoor Holdings Inc. (NYSE:CCO) closed lower on Tuesday, April 02, closing at $1.57, -2.48% lower than its previous close.

In examining the 52-week price action we see that the stock hit a 52-week high of $2.06 and a 52-week low of $0.99. Over the past month, the stock has lost -12.29% in value.

Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '24.

Small-cap Uranium stocks are booming in 2024! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!

Get the FREE Report with all the details here.


Clear Channel Outdoor Holdings Inc., whose market valuation is $759.44 million at the time of this writing, is expected to release its quarterly earnings report May 07, 2024 – May 13, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.17 per share this quarter, however they have predicted annual earnings per share of -$0.23 for 2024 and -$0.14 for 2025. It means analysts are expecting annual earnings per share growth of 64.60% this year and 39.10% next year.

Analysts have forecast the company to bring in revenue of $478.55 million for the current quarter, with the likely lows of $474.18 million and highs of $483 million. The average estimate suggests sales will likely down by -12.30% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $2.25 billion. The company’s revenue is forecast to grow by 5.70% over what it did in 2024.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Clear Channel Outdoor Holdings Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CCO has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.

A quick review shows that CCO’s price is currently -4.96% off the SMA20 and -8.61% off the SMA50. The RSI metric on the 14-day chart is currently showing 43.00, and weekly volatility stands at 3.55%. When measured over the past 30 days, the indicator reaches 5.20%. Clear Channel Outdoor Holdings Inc. (NYSE:CCO)’s beta value is currently sitting at 2.92, while the Average True Range indicator is currently displaying 0.10.

To see how Clear Channel Outdoor Holdings Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: CCO stock’s performance was -2.48% in the latest trading, and 40.18% in the past year.

An evaluation of the daily trading volume of Clear Channel Outdoor Holdings Inc. (NYSE:CCO) indicates that the 3-month average is 2.39 million. However, this figure has increased over the past 10 days to an average of 2.7 million.

Currently, records show that 483.06 million of the company’s shares remain outstanding. The insiders hold 13.49% of outstanding shares, whereas institutions hold 88.87%. The stats also highlight that short interest as of Mar 15, 2024, stood at 23.92 million shares, resulting in a short ratio of 8.89 at that time. From this, we can conclude that short interest is 4.95% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 25.54 million. However, since the stock’s price has seen -13.74% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.