Out of Home Stocks Exceed Market in 4Q 2023

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Public out of home companies beat the market during the fourth quarter of 2023.  OUTFRONT was up 38% on news that transit ridership is creeping up.  Lamar was up 27%.  Clear Channel Outdoor was up 15% with a sharp improvement after the company reaffirmed fourth quarter revenue guidance (November 8) and announced the France sale closing and moves to sell Europe North and Latin America.  The S&P 500 was up 11%.

Stock performance for OUTFRONT (purple), Lamar (green), S&P 500 (black) and Clear Channel Outdoor (Blue) for 3 months ended December 31, 2023

 

Clear Channel Outdoor was the only out of home company to beat the market for the full year 2023.  Clear Channel Outdoor rose 73%.  The S&P 500 rose 24%.  Lamar rose 13%.  OUTFRONT declined by 16%.

Clear Channel Outdoor (Blue), S&P 500 (Black), Lamar (Green), OUTFRONT (Purple) stock performance for the 12 months ended December 31, 2023.

 

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