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Clear Channel Outdoor Holdings

NYSE:CCO
Snowflake Description

Slightly overvalued with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CCO
NYSE
$297M
Market Cap
  1. Home
  2. US
  3. Media
Company description

Clear Channel Outdoor Holdings, Inc., an outdoor advertising company, owns, operates, and sells advertising displays in the United States and internationally. The last earnings update was 42 days ago. More info.


Add to Portfolio Compare Print
  • Clear Channel Outdoor Holdings has significant price volatility in the past 3 months.
CCO Share Price and Events
7 Day Returns
3.2%
NYSE:CCO
10.2%
US Media
8%
US Market
1 Year Returns
-88.3%
NYSE:CCO
-12.4%
US Media
-8.1%
US Market
CCO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clear Channel Outdoor Holdings (CCO) 3.2% -54.2% -77.6% -88.3% -89.5% -94.4%
US Media 10.2% -6.6% -22.5% -12.4% -11.7% -2.7%
US Market 8% -4.5% -17.8% -8.1% 13.2% 23.7%
1 Year Return vs Industry and Market
  • CCO underperformed the Media industry which returned -12.4% over the past year.
  • CCO underperformed the Market in United States of America which returned -8.1% over the past year.
Price Volatility
CCO
Industry
5yr Volatility vs Market

CCO Value

 Is Clear Channel Outdoor Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Clear Channel Outdoor Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Clear Channel Outdoor Holdings.

NYSE:CCO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CCO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Media Unlevered Beta Simply Wall St/ S&P Global 0.68
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.675 (1 + (1- 21%) (2382.55%))
9.298
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (2 * 5.44%)
12.62%

Discounted Cash Flow Calculation for NYSE:CCO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Clear Channel Outdoor Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:CCO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 12.62%)
2020 -73.70 Analyst x3 -65.44
2021 91.35 Analyst x2 72.02
2022 109.20 Analyst x2 76.45
2023 122.30 Est @ 11.99% 76.02
2024 133.20 Est @ 8.92% 73.52
2025 142.21 Est @ 6.76% 69.70
2026 149.69 Est @ 5.26% 65.14
2027 155.98 Est @ 4.2% 60.27
2028 161.38 Est @ 3.46% 55.37
2029 166.13 Est @ 2.95% 50.62
Present value of next 10 years cash flows $533.00
NYSE:CCO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $166.13 × (1 + 1.74%) ÷ (12.62% – 1.74%)
$1,553.51
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,553.51 ÷ (1 + 12.62%)10
$473.33
NYSE:CCO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $533.00 + $473.33
$1,006.33
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,006.33 / 466.42
$2.16
NYSE:CCO Discount to Share Price
Calculation Result
Value per share (USD) From above. $2.16
Current discount Discount to share price of $0.64
= -1 x ($0.64 - $2.16) / $2.16
70.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Clear Channel Outdoor Holdings is available for.
Intrinsic value
>50%
Share price is $0.64 vs Future cash flow value of $2.16
Current Discount Checks
For Clear Channel Outdoor Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Clear Channel Outdoor Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Clear Channel Outdoor Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Clear Channel Outdoor Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clear Channel Outdoor Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CCO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-0.88
NYSE:CCO Share Price ** NYSE (2020-04-08) in USD $0.64
United States of America Media Industry PE Ratio Median Figure of 40 Publicly-Listed Media Companies 9.98x
United States of America Market PE Ratio Median Figure of 2,949 Publicly-Listed Companies 13.31x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Clear Channel Outdoor Holdings.

NYSE:CCO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CCO Share Price ÷ EPS (both in USD)

= 0.64 ÷ -0.88

-0.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Clear Channel Outdoor Holdings is loss making, we can't compare its value to the US Media industry average.
  • Clear Channel Outdoor Holdings is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Clear Channel Outdoor Holdings's expected growth come at a high price?
Raw Data
NYSE:CCO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
40.5%per year
United States of America Media Industry PEG Ratio Median Figure of 28 Publicly-Listed Media Companies 0.84x
United States of America Market PEG Ratio Median Figure of 2,009 Publicly-Listed Companies 0.9x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Clear Channel Outdoor Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Clear Channel Outdoor Holdings's assets?
Raw Data
NYSE:CCO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $-4.73
NYSE:CCO Share Price * NYSE (2020-04-08) in USD $0.64
United States of America Media Industry PB Ratio Median Figure of 76 Publicly-Listed Media Companies 0.95x
United States of America Market PB Ratio Median Figure of 5,163 Publicly-Listed Companies 1.29x
NYSE:CCO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CCO Share Price ÷ Book Value per Share (both in USD)

= 0.64 ÷ -4.73

-0.13x

* Primary Listing of Clear Channel Outdoor Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Clear Channel Outdoor Holdings has negative assets, we can't compare the value of its assets to the US Media industry average.
X
Value checks
We assess Clear Channel Outdoor Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Media industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Media industry average (and greater than 0)? (1 check)
  5. Clear Channel Outdoor Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CCO Future Performance

 How is Clear Channel Outdoor Holdings expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
40.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clear Channel Outdoor Holdings expected to grow at an attractive rate?
  • Unable to compare Clear Channel Outdoor Holdings's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Clear Channel Outdoor Holdings's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Clear Channel Outdoor Holdings's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CCO Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CCO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 40.5%
NYSE:CCO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -3.5%
United States of America Media Industry Earnings Growth Rate Market Cap Weighted Average 16.2%
United States of America Media Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 6.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CCO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CCO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,377 240 -93 3
2021-12-31 2,296 172 -172 5
2020-12-31 2,158 140 -270 5
2020-04-09
NYSE:CCO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 2,684 215 -363
2019-09-30 2,686 136 -365
2019-06-30 2,696 177 -215
2019-03-31 2,710 135 -254
2018-12-31 2,722 187 -218
2018-09-30 2,703 207 -786
2018-06-30 2,683 245 -785
2018-03-31 2,642 215 -742
2017-12-31 2,589 160 -644
2017-09-30 2,583 193 -1
2017-06-30 2,608 202 32
2017-03-31 2,645 244 -29

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Clear Channel Outdoor Holdings is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Clear Channel Outdoor Holdings's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CCO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Clear Channel Outdoor Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CCO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 -0.27 -0.07 -0.44 4.00
2021-12-31 -0.35 -0.03 -0.74 7.00
2020-12-31 -0.58 -0.11 -0.94 7.00
2020-04-09
NYSE:CCO Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -0.88
2019-09-30 -0.94
2019-06-30 -0.59
2019-03-31 -0.70
2018-12-31 -0.60
2018-09-30 -2.17
2018-06-30 -2.17
2018-03-31 -2.05
2017-12-31 -1.78
2017-09-30 0.00
2017-06-30 0.09
2017-03-31 -0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Clear Channel Outdoor Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Clear Channel Outdoor Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Clear Channel Outdoor Holdings has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CCO Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Clear Channel Outdoor Holdings's growth in the last year to its industry (Media).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Clear Channel Outdoor Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Clear Channel Outdoor Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Clear Channel Outdoor Holdings's 1-year growth to the US Media industry average as it is not currently profitable.
Earnings and Revenue History
Clear Channel Outdoor Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Clear Channel Outdoor Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CCO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,683.81 -363.30 665.27
2019-09-30 2,686.17 -364.75 674.33
2019-06-30 2,696.46 -214.54 674.16
2019-03-31 2,710.42 -253.99 663.75
2018-12-31 2,721.71 -218.24 675.01
2018-09-30 2,702.52 -785.74 659.67
2018-06-30 2,683.21 -784.86 657.01
2018-03-31 2,642.37 -742.04 655.42
2017-12-31 2,588.70 -644.35 642.89
2017-09-30 2,582.86 -1.00 629.32
2017-06-30 2,607.65 32.11 616.81
2017-03-31 2,644.60 -29.44 619.23
2016-12-31 2,679.82 135.07 632.86
2016-09-30 2,738.39 -1.49 635.05
2016-06-30 2,765.44 7.03 642.39
2016-03-31 2,780.18 77.56 637.63
2015-12-31 2,806.20 -95.98 636.93
2015-09-30 2,836.15 -11.38 632.17
2015-06-30 2,882.67 4.14 638.22
2015-03-31 2,941.05 53.76 644.65
2014-12-31 2,961.26 -9.59 652.71
2014-09-30 2,965.35 -40.20 654.53
2014-06-30 2,945.57 -28.92 646.13
2014-03-31 2,931.23 -71.05 641.53
2013-12-31 2,946.19 -51.03 644.07
2013-09-30 2,943.29 -212.41 622.05
2013-06-30 2,951.42 -199.66 629.59

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Clear Channel Outdoor Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Clear Channel Outdoor Holdings used its assets less efficiently than the US Media industry average last year based on Return on Assets.
  • It is difficult to establish if Clear Channel Outdoor Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Clear Channel Outdoor Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Media industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Clear Channel Outdoor Holdings has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CCO Health

 How is Clear Channel Outdoor Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Clear Channel Outdoor Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clear Channel Outdoor Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Clear Channel Outdoor Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Clear Channel Outdoor Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Clear Channel Outdoor Holdings has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Clear Channel Outdoor Holdings Company Filings, last reported 3 months ago.

NYSE:CCO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 -2,054.71 5,128.93 399.74
2019-09-30 -2,100.22 5,131.99 341.81
2019-06-30 -2,214.93 5,341.24 372.50
2019-03-31 -2,255.83 5,293.64 170.51
2018-12-31 -2,101.65 5,277.34 183.49
2018-09-30 -2,140.01 5,274.81 191.12
2018-06-30 -2,078.95 5,272.53 172.31
2018-03-31 -1,993.61 5,271.35 153.23
2017-12-31 -1,858.29 5,266.73 145.84
2017-09-30 -1,284.17 5,264.86 222.39
2017-06-30 -1,216.50 5,119.12 163.07
2017-03-31 -1,234.54 5,119.54 200.62
2016-12-31 -930.93 5,116.99 543.44
2016-09-30 -995.02 5,117.93 394.32
2016-06-30 -966.44 5,115.23 439.53
2016-03-31 -940.42 5,113.22 489.64
2015-12-31 -569.67 5,110.82 414.70
2015-09-30 -297.83 4,929.42 172.94
2015-06-30 -263.35 4,930.57 129.88
2015-03-31 -255.26 4,931.04 207.28
2014-12-31 -140.94 4,933.93 189.33
2014-09-30 -132.57 4,932.77 203.75
2014-06-30 103.30 4,934.70 225.97
2014-03-31 58.75 4,935.06 270.23
2013-12-31 160.11 4,935.38 318.41
2013-09-30 335.97 4,939.91 418.59
2013-06-30 338.22 4,938.06 398.71
  • Clear Channel Outdoor Holdings has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Clear Channel Outdoor Holdings's debt level has increased considering it has negative shareholder equity.
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.

  • Clear Channel Outdoor Holdings has sufficient cash runway for more than 3 years based on current free cash flow.
  • Unable to confirm if Clear Channel Outdoor Holdings has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Clear Channel Outdoor Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Clear Channel Outdoor Holdings has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CCO Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Clear Channel Outdoor Holdings dividends. Estimated to be 0% next year.
If you bought $2,000 of Clear Channel Outdoor Holdings shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Clear Channel Outdoor Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Clear Channel Outdoor Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CCO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Media Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1933 Stocks 2.8%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CCO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.00 1.00
2021-12-31 0.00 2.00
2020-12-31 0.00 2.00
2020-04-09
NYSE:CCO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2014-02-20 0.558 6.442

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Clear Channel Outdoor Holdings has not reported any payouts.
  • Unable to verify if Clear Channel Outdoor Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Clear Channel Outdoor Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Clear Channel Outdoor Holdings has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Clear Channel Outdoor Holdings's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Clear Channel Outdoor Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Clear Channel Outdoor Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Clear Channel Outdoor Holdings has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CCO Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Christopher Eccleshare
COMPENSATION $10,577,178
AGE 63
TENURE AS CEO 8.3 years
CEO Bio

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 iHeartCommunications since March 02, 2015. Mr. Eccleshare serves as the President of Clear Channel International. He served as Chief Executive Officer of Outdoor iHeartCommunications, Inc (formerly, Clear Channel Communications, Inc.), CCOH and iHeartMedia, Inc (formerly, CC Media Holdings, Inc) since January 24, 2012 and Chief Executive Officer of Outdoor of iHeartMedia Capital I, LLC on April 26, 2013. Mr. Eccleshare served as the Chief Executive Officer of Outdoor at Clear Channel Capital I, LLC since January 24, 2012 until March 2, 2015. He serves as the Chief Executive Officer- Worldwide at Clear Channel Outdoor Holdings Inc. from January 24, 2012 and Director since 2019. He also serves as President at Clear Channel Outdoor Holdings, Inc. He served as Chief Executive Officer and President of Clear Channel International (CCI) (Formerly Outdoor International), an affiliate of CC Media Holdings Inc., Clear Channel Outdoor Inc. and Clear Channel UK Limited. since September 1, 2009. He has more than 20 years’ advertising experience and an unparalleled track record of successfully creating value in a number of entrepreneurial roles. He joined Clear Channel from BBDO Europe, where he served as the Chairman and Chief Executive Officer and was responsible for all BBDO advertising, direct marketing, digital and public relations agencies in 44 countries. He served as the Chief Executive Officer and Chairman of Y&R Brands in Europe, Middle East and Africa of Young & Rubicam Inc since 2002. Throughout his career, he served senior executive roles including at McKinsey & Company, where he was Partner, European Branding Practice at Ammirati Puris Lintas, where he served as Chairman and Chief Executive Officer, EMEA (Europe, Middle East and Africa) and at J Walter Thomson, where he served various senior titles. He serves as the Chairman of Europe, Middle East & Africa at BBDO Warszawa Sp. z o.o. He has been the Deputy Chairman and Non Executive Director at Clear Media Ltd. since October 15, 2009. He has been Vice Chair of Advertisers of The Advertising Council, Inc. since July 2014 and has been its Director since July 2, 2012. He served as an Independent Non-Executive Director of Hays Plc from November 24, 2004 to November 12, 2014. He served as a Director for Y&R Brands in Europe the Middle East and Africa at Young & Rubicam, Inc. Prior to January 24, 2012, he served as Chief Executive Officer of Clear Channel Outdoor International of iHeartMedia, Inc and iHeartCommunications since February 17, 2011 and as Chief Executive Officer-International of CCOH since September 1, 2009. He was Chairman and Chief Executive Officer of BBDO EMEA from 2005 to 2009. Mr. Eccleshare has an MA in History from Trinity College Cambridge.

CEO Compensation
  • Christopher's compensation has increased whilst company is loss making.
  • Christopher's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Clear Channel Outdoor Holdings management team in years:

5.3
Average Tenure
50
Average Age
  • The average tenure for the Clear Channel Outdoor Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Christopher Eccleshare

TITLE
CEO-Worldwide
COMPENSATION
$11M
AGE
63
TENURE
8.3 yrs

Brian Coleman

TITLE
CFO & Treasurer
COMPENSATION
$2M
AGE
53

Jason Dilger

TITLE
Senior VP & Chief Accounting Officer
COMPENSATION
$818K
AGE
45
TENURE
0.9 yrs

Lynn Feldman

TITLE
Executive VP
COMPENSATION
$2M
AGE
50
TENURE
3.8 yrs

Scott Wells

TITLE
Executive VP & CEO of Clear Channel Outdoor Americas
COMPENSATION
$3M
AGE
50
TENURE
5.1 yrs

Steve Macri

TITLE
Senior Vice President of Corporate Finance
COMPENSATION
$472K
AGE
50
TENURE
5.6 yrs

Eileen McLaughlin

TITLE
Vice President – Investor Relations

Robert Walls

TITLE
Executive VP
COMPENSATION
$2M
AGE
58
TENURE
10.3 yrs

Jason King

TITLE
Senior Vice President of Corporate Communications & Marketing

Philippe Baudillon

TITLE
Chief Executive Officer of France Operations
Board of Directors Tenure

Average tenure and age of the Clear Channel Outdoor Holdings board of directors in years:

1.3
Average Tenure
56.5
Average Age
  • The average tenure for the Clear Channel Outdoor Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ben Moreland

TITLE
Independent Chairman & Lead Independent Director
COMPENSATION
$318K
AGE
55
TENURE
1.3 yrs

Christopher Eccleshare

TITLE
CEO-Worldwide
COMPENSATION
$11M
AGE
63
TENURE
1.3 yrs

Tom King

TITLE
Independent Director
COMPENSATION
$288K
AGE
58
TENURE
1.3 yrs

MT Rainey

TITLE
Independent Director
COMPENSATION
$292K
AGE
63
TENURE
0.9 yrs

Andy Hobson

TITLE
Independent Director
COMPENSATION
$292K
AGE
57
TENURE
1.3 yrs

Jinhy Yoon

TITLE
Director
TENURE
1.3 yrs

Joe Marchese

TITLE
Independent Director
COMPENSATION
$292K
AGE
38
TENURE
1.3 yrs

Lisa Hammitt

TITLE
Independent Director
COMPENSATION
$286K
AGE
56
TENURE
1.3 yrs

John Dionne

TITLE
Independent Director
COMPENSATION
$290K
AGE
55
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
09. Oct 19 Sell Pacific Investment Management Company LLC Company 07. Oct 19 07. Oct 19 -5,022 $2.48 $-12,455
09. Jul 19 Buy Associated Capital Group, Inc. Company 21. Jun 19 21. Jun 19 500 $5.00 $2,500
09. Jul 19 Sell GAMCO Investors, Inc. Company 26. Jun 19 26. Jun 19 -500 $4.75 $-2,373
09. Jul 19 Buy GAMCO Investors, Inc. Company 25. Jun 19 01. Jul 19 47,000 $4.66 $217,932
19. Aug 19 Buy Andrew Hobson Individual 16. Aug 19 16. Aug 19 200,000 $2.32 $463,360
19. Aug 19 Buy Brian Coleman Individual 13. Aug 19 13. Aug 19 25,000 $2.30 $57,563
16. Aug 19 Buy W. Moreland Individual 15. Aug 19 15. Aug 19 400,000 $2.28 $913,680
16. Aug 19 Buy Brian Coleman Individual 14. Aug 19 14. Aug 19 20,000 $2.44 $48,852
16. Aug 19 Buy Scott Wells Individual 14. Aug 19 14. Aug 19 15,000 $2.36 $35,442
16. May 19 Sell Pacific Investment Management Company LLC Company 14. May 19 14. May 19 -1,201,851 $5.06 $-6,070,213
X
Management checks
We assess Clear Channel Outdoor Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Clear Channel Outdoor Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CCO News

Simply Wall St News

A Look At The Intrinsic Value Of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

by taking the expected future cash flows and discounting them to their present value. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model … See our latest analysis for Clear Channel Outdoor Holdings

Simply Wall St -

When Should You Buy Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)?

Clear Channel Outdoor Holdings, Inc. … A question to answer is whether Clear Channel Outdoor Holdings's current trading price of $5.4 reflective of the actual value of the? … Let’s take a look at Clear Channel Outdoor Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Those Who Purchased Clear Channel Outdoor Holdings Shares Five Years Ago Have A 41% Loss To Show For It

So we wouldn't blame long term Clear Channel Outdoor Holdings, Inc. … Clear Channel Outdoor Holdings isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … In the last five years Clear Channel Outdoor Holdings saw its revenue shrink by 2.9% per year.

Simply Wall St -

What Kind Of Share Price Volatility Should You Expect For Clear Channel Outdoor Holdings Inc (NYSE:CCO)?

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … However, Warren Buffett said 'volatility is far from synonymous with risk' in his 2014 letter to investors. … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Is Clear Channel Outdoor Holdings Inc's (NYSE:CCO) CEO Incentives Align With Yours?

How Does Bob Pittman's Compensation Compare With Similar Sized Companies. … According to our data, Clear Channel Outdoor Holdings Inc has a market capitalization of US$2.2b, and pays its CEO total annual compensation worth US$534k. … A first glance this seems like a real positive for shareholders, since Bob Pittman is paid less than the average compensation paid by similar sized companies.

Simply Wall St -

Why Did Clear Channel Outdoor Holdings Inc's' (NYSE:CCO) Insiders Buy Up More Shares?

Clear Channel Outdoor Holdings, Inc., an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. … Clear Channel Outdoor Holdings is one of United States’s. … some insider buying over the past three months, with insiders investing in.

Simply Wall St -

What Kind Of Risk Should You Expect For Clear Channel Outdoor Holdings Inc (NYSE:CCO)?

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … View our latest analysis for Clear Channel Outdoor Holdings What is CCO’s market risk? … Clear Channel Outdoor Holdings’s five-year beta of 1.68 means that the company’s value will swing up by more than the market during prosperous times, but also drop down by more in times of downturns.

Simply Wall St -

Is Clear Channel Outdoor Holdings Inc (NYSE:CCO) Overpaying Its CEO?

See our latest analysis for Clear Channel Outdoor Holdings What has CCO's performance been like? … In this exercise, I will use profits as a proxy for Pittman's performance. … Typically I would look at market cap and earnings as a proxy for performance, however, CCO's negative earnings lower the usefulness of my formula.

Simply Wall St -

Should You Follow This Trend For Clear Channel Outdoor Holdings Inc (NYSE:CCO)?

See our latest analysis for Clear Channel Outdoor Holdings Which Insiders Are Buying? … Within the past three months, Clear Channel Outdoor Holdings’s share price traded at a high of $5.3 and a low of $4.55. … Next Steps: Clear Channel Outdoor Holdings’s net buying tells us the stock is in favour with some insiders, although the expected earnings growth challenges this conclusion, and the share price movement may be too trivial to cash in on any mispricing.

Simply Wall St -

Who Really Owns Clear Channel Outdoor Holdings Inc (NYSE:CCO)?

Today, I will be analyzing Clear Channel Outdoor Holdings Inc’s (NYSE:CCO) recent ownership structure, an important but not-so-popular subject among individual investors. … Although this is an important factor for long-term investors, many investors can also be impacted by institutional presence and their high-volume trading. … Insider Ownership Another important group of shareholders are company insiders.

Simply Wall St -

CCO Company Info

Description

Clear Channel Outdoor Holdings, Inc., an outdoor advertising company, owns, operates, and sells advertising displays 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; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures; and 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, retail, food/food products, entertainment, Internet and E-Commerce, and telecommunications. As of December 31, 2019, it owned or operated approximately 74,000 advertising displays in the United States; and 390,000 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.

Details
Name: Clear Channel Outdoor Holdings, Inc.
CCO
Exchange: NYSE
Founded: 1995
$297,016,034
466,419,652
Website: http://www.clearchanneloutdoor.com
Address: Clear Channel Outdoor Holdings, Inc.
4830 North Loop 1604 West,
Suite 111,
San Antonio,
Texas, 78249,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CCO Common Stock New York Stock Exchange US USD 11. Nov 2005
DB C7C1 Common Stock Deutsche Boerse AG DE EUR 11. Nov 2005
Number of employees
Current staff
Staff numbers
5,900
Clear Channel Outdoor Holdings employees.
Industry
Advertising
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 05:51
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/02/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.