Out of home stocks underperformed the market in the first quarter of 2024 due to fears of a trump tariff induced recession.  Here’s an analysis of the  performance of public US out of home stocks, sponsored by SignValue.  The S&P 500 fell 4.6% during the first quarter of 2025 (3 months ended March 31, 2025).  Lamar dropped 6.5%.  OUTFRONT dropped 11.2%.  Clear Channel Outdoor dropped 18.9%.  Clear Channel can be expected to fall the fastest on negative economic news because it has much higher debt than OUTFRONT and Lamar.

Performance of Lamar (dark blue), OUTFRONT (Yellow), Clear Channel Outdoor (light blue) and the S&P 500 (Orange) for the 3 months ended March 31, 2025.

Lamar and Clear Channel have both outperformed the market for the past 5 years.  Lamar is up 199%.  Clear Channel is up 136%.  The S&P 500 is up 126%.  Outfront is up 49%.

Stock performance for Lamar (dark blue), OUTFRONT (yellow), Clear Channel Outdoor (light blue) and the S&P 500 (orange) for the five years ended March 31, 2025

The trend for the past 30 years shows it paid to be bullish on Lamar.  Lamar has increased 743% over the past 30 years.  The S&P 500 is up 650%.  OUTFRONT has dropped 47%.  Clear Channel Outdoor has dropped 94%.  OUTFRONT has been weighed down by poor transit performance.  It’s maybe not such a surprise that OUTFRONT recently switched its CEO and Chief Revenue Officer.  Clear Channel Outdoor’s growth has been hampered by concern over the company’s high leverage and the underperformance of international assets.  The drag of subpar international assets is largely gone but high leverage means Clear Channel has less money to invest on tuck in acquisitions or digital sign conversions than Lamar or OUTFRONT.

Stock performance for Lamar (dark blue), OUTFRONT Media (yellow), Clear Channel Outdoor (light blue) and the S&P 500 (orange) since 1996.  Clear Channel Outdoor went public in 2005.  OUTFRONT went public in 2014.

If you have questions, contact one of their experienced analysts for a free and confidential consultation at info@signvalue.com or call 480-657-8400.

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