CCO - Downgrading Clear Channel Outdoor Holdings On Continued Bottom Line Weakness
2024-06-06 07:49:05 ET
Summary
- Clear Channel Outdoor Holdings has seen its stock plummet 51.9% since April 2022, underperforming the market.
- While revenue has grown, the company's bottom line results have worsened, leading to a downgrade to a 'sell'.
- The company is heavily leveraged and profitability metrics have declined, making it difficult to be optimistic about its future performance.
Every investor makes mistakes. Sometimes, these are small mistakes. Other times, they can be rather substantial. An example of a mistake that I made in 2022 was in my analysis of Clear Channel Outdoor Holdings ( CCO ). For those not familiar with the company, it operates as one of the largest out-of-home advertising companies in the world. The company used to be larger than it is today. However, in order to simplify operations, management has sold off many international assets. Even with this, however, by the end of 2023, the business had over 325,000 print and digital displays spread across 19 different countries....
Downgrading Clear Channel Outdoor Holdings On Continued Bottom Line Weakness