B. Riley Lowers Audacy (NYSEARCA:AUD) Price Target to $4.00

Audacy (NYSEARCA:AUD – Get Rating) had its price objective reduced by B. Riley from $6.00 to $4.00 in a research note released on Tuesday morning, The Fly reports. B. Riley also issued estimates for Audacy’s Q2 2022 earnings at $0.08 EPS, Q3 2022 earnings at $0.35 EPS, Q4 2022 earnings at $0.45 EPS, FY2022 earnings at $0.79 EPS, FY2023 earnings at $1.11 EPS, FY2024 earnings at $1.16 EPS, FY2025 earnings at $1.21 EPS and FY2026 earnings at $1.39 EPS.

Separately, Zacks Investment Research raised shares of Audacy from a sell rating to a hold rating in a research note on Friday, February 25th.

Shares of NYSEARCA:AUD opened at $1.96 on Tuesday. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.66 and a quick ratio of 1.73. Audacy has a 1-year low of $1.84 and a 1-year high of $4.71. The company has a market capitalization of $282.44 million, a P/E ratio of 38.40 and a beta of 1.44. The firm’s 50 day simple moving average is $2.77 and its two-hundred day simple moving average is $2.70.

Audacy (NYSEARCA:AUD – Get Rating) last released its earnings results on Tuesday, February 22nd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. Audacy had a net margin of 0.56% and a return on equity of 1.10%. During the same period in the prior year, the firm earned ($1.21) EPS. On average, sell-side analysts anticipate that Audacy will post 0.79 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Scott Capital Advisors LLC purchased a new stake in shares of Audacy during the fourth quarter valued at about $26,000. Greenleaf Trust purchased a new stake in shares of Audacy during the first quarter valued at about $33,000. Great Lakes Advisors LLC purchased a new stake in shares of Audacy during the fourth quarter valued at about $40,000. Janus Henderson Group PLC purchased a new stake in shares of Audacy during the third quarter valued at about $46,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Audacy by 420.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,921 shares of the company’s stock valued at $58,000 after buying an additional 19,321 shares during the last quarter. 50.04% of the stock is owned by institutional investors.

Audacy Company Profile (Get Rating)

Audacy, Inc, a multi-platform audio content and entertainment company, engages in the radio broadcasting business in the United States. The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others, as well as offers integrated marketing solutions across its broadcast, digital, podcast, and event platforms.

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