NYSE:CCO

Stock Analysis Report

Clear Channel Outdoor Holdings

Executive Summary

Clear Channel Outdoor Holdings, Inc., an outdoor advertising company, owns and operates advertising display faces in the United States and internationally.


Snowflake Analysis

Slightly overvalued with imperfect balance sheet.


Similar Companies

Share Price & News

How has Clear Channel Outdoor Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CCO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-6.4%

CCO

3.2%

US Media

2.0%

US Market


1 Year Return

9.0%

CCO

29.8%

US Media

23.5%

US Market

Return vs Industry: CCO underperformed the US Media industry which returned 29.5% over the past year.

Return vs Market: CCO underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

CCOIndustryMarket
7 Day-6.4%3.2%2.0%
30 Day1.5%6.1%4.3%
90 Day-4.7%8.8%12.2%
1 Year9.0%9.0%31.6%29.8%26.1%23.5%
3 Year-5.6%-23.5%23.2%18.1%53.1%43.2%
5 Year21.7%-40.2%46.5%34.9%75.5%56.1%

Price Volatility Vs. Market

How volatile is Clear Channel Outdoor Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Clear Channel Outdoor Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CCO ($4.85) is trading below our estimate of fair value ($47.2)

Significantly Below Fair Value: CCO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CCO is unprofitable, so we can't compare its PE Ratio to the Media industry average.

PE vs Market: CCO is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CCO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CCO has negative assets, so we can't compare its PB Ratio to the US Media industry average.


Next Steps

Future Growth

How is Clear Channel Outdoor Holdings forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

1.9%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if CCO's forecast earnings growth is above the savings rate (2.7%).

Earnings vs Market: Insufficient data to determine if CCO's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CCO's revenue (1.9% per year) is forecast to grow slower than the US market (7.5% per year).

High Growth Revenue: CCO's revenue (1.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CCO's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Clear Channel Outdoor Holdings performed over the past 5 years?

-61.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CCO is currently unprofitable.

Growing Profit Margin: CCO is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CCO is unprofitable, and losses have increased over the past 5 years at a rate of -61.2% per year.

Accelerating Growth: Unable to compare CCO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CCO is unprofitable, making it difficult to compare its past year earnings growth to the Media industry (-30.3%).


Return on Equity

High ROE: CCO's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Clear Channel Outdoor Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: CCO has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: CCO has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: CCO has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: CCO's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

Inventory Level: CCO has a high level of physical assets or inventory.

Debt Coverage by Assets: CCO has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CCO has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: CCO has sufficient cash runway for 1.7 years if free cash flow continues to reduce at historical rates of -82.1% each year.


Next Steps

Dividend

What is Clear Channel Outdoor Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate CCO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CCO's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CCO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CCO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CCO's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Clear Channel Outdoor Holdings's salary, the management and board of directors tenure and is there insider trading?

6.1yrs

Average management tenure


CEO

Christopher Eccleshare (62yo)

7.4yrs

Tenure

US$4,767,786

Compensation

Mr. Christopher William Eccleshare has been the Chairman and Chief Executive Officer of Clear Channel International at Clear Channel Outdoor Holdings Inc., iHeartMedia, Inc., iHeartMedia Capital I, LLC and ...


CEO Compensation Analysis

Compensation vs Market: Christopher's total compensation ($USD4.77M) is above average for companies of similar size in the US market ($USD1.08M).

Compensation vs Earnings: Christopher's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

6.1yrs

Average Tenure

53yo

Average Age

Experienced Management: CCO's management team is seasoned and experienced (6.1 years average tenure).


Board Age and Tenure

0.4yrs

Average Tenure

59yo

Average Age

Experienced Board: CCO's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Insufficient data to determine if shareholders have been diluted in the past year.


Management Team

  • Rich Bressler (61yo)

    President

    • Compensation: US$2.83m
  • Robert Walls (57yo)

    Executive VP

    • Tenure: 9.4yrs
    • Compensation: US$2.00m
  • Christopher Eccleshare (62yo)

    CEO & Director

    • Tenure: 7.4yrs
    • Compensation: US$4.77m
  • Lynn Feldman

    Executive VP

    • Tenure: 3yrs
  • Philippe Baudillon

    Chief Executive Officer of France Operations

    • Eileen McLaughlin

      Vice President – Investor Relations

      • Scott Wells (49yo)

        Chief Executive Officer of Clear Channel Outdoor Americas

        • Tenure: 4.3yrs
        • Compensation: US$2.90m
      • Steve Macri (49yo)

        Senior Vice President of Corporate Finance

        • Tenure: 4.8yrs
        • Compensation: US$471.67k
      • Jason King

        Senior Vice President of Corporate Communications & Marketing

        • Scott Hamilton (48yo)

          Senior VP

          • Tenure: 9.2yrs
          • Compensation: US$224.75k

        Board Members

        • Ben Moreland (54yo)

          Chairman & Lead Independent Director

          • Tenure: 0.4yrs
        • Harvey Tepner (61yo)

          Presiding Director

          • Compensation: US$519.42k
        • Christopher Eccleshare (62yo)

          CEO & Director

          • Tenure: 7.4yrs
          • Compensation: US$4.77m
        • Dale Tremblay (59yo)

          Director

          • Tenure: 13.6yrs
          • Compensation: US$605.00k
        • Jinhy Yoon

          Director

          • Tenure: 0.4yrs
        • Dan Jones (43yo)

          Director

          • Tenure: 10.8yrs
        • Paul Keglevic (64yo)

          Director

          • Tenure: 2.1yrs
          • Compensation: US$630.87k
        • Olivia Sabine (39yo)

          Director

          • Tenure: 4.3yrs
        • Joe Marchese

          Director

          • Tenure: 0.4yrs
        • Tom King

          Director

          • Tenure: 0.4yrs

        Company Information

        Clear Channel Outdoor Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: Clear Channel Outdoor Holdings, Inc.
        • Ticker: CCO
        • Exchange: NYSE
        • Founded: 1995
        • Industry: Advertising
        • Sector: Media
        • Market Cap: US$225.012m
        • Shares outstanding: 47.07m
        • Website: https://www.clearchanneloutdoor.com

        Number of Employees


        Location

        • Clear Channel Outdoor Holdings, Inc.
        • 20880 Stone Oak Parkway
        • San Antonio
        • Texas
        • 78258
        • United States

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        CCONYSE (New York Stock Exchange)YesClass A Common StockUSUSDNov 2005
        C7C1DB (Deutsche Boerse AG)YesClass A Common StockDEEURNov 2005

        Biography

        Clear Channel Outdoor Holdings, Inc., an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays. It also provides street furniture equipment, cleaning and maintenance services, and production and creative services; and a public bicycle rental program, which offers bicycles for rent to the general public in various municipalities. The company serves the business service, retail, media, healthcare and medical, banking and financial services, telecommunications, Internet and e-commerce, food and food products, and entertainment industries. As of December 31, 2018, it owned or operated approximately 79,000 display structures in the United States; and 380,000 displays across 22 countries. The company was formerly known as Eller Media Company and changed its name to Clear Channel Outdoor Holdings, Inc. in August 2005. The company was incorporated in 1995 and is headquartered in San Antonio, Texas. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2019/06/06 03:49
        End of Day Share Price2019/06/05 00:00
        Earnings2019/03/31
        Annual Earnings2018/12/31


        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.