Brokerages Set iHeartMedia, Inc. (NASDAQ:IHRT) Target Price at $3.38

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $3.38.

Several brokerages have recently commented on IHRT. The Goldman Sachs Group decreased their price target on iHeartMedia from $2.00 to $1.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Guggenheim decreased their price target on iHeartMedia from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th.

Hedge Funds Weigh In On iHeartMedia

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in iHeartMedia by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock worth $13,754,000 after acquiring an additional 203,917 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in iHeartMedia by 169.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock worth $84,000 after acquiring an additional 25,001 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in iHeartMedia during the 1st quarter worth about $181,000. PFG Investments LLC acquired a new position in iHeartMedia during the 1st quarter worth about $45,000. Finally, Douglas Lane & Associates LLC increased its holdings in iHeartMedia by 4.4% during the 1st quarter. Douglas Lane & Associates LLC now owns 8,098,512 shares of the company’s stock worth $16,926,000 after purchasing an additional 342,901 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

iHeartMedia Stock Performance

Shares of iHeartMedia stock opened at $1.00 on Friday. iHeartMedia has a one year low of $0.98 and a one year high of $4.74. The company has a market cap of $144.36 million, a price-to-earnings ratio of -0.17 and a beta of 1.84. The business’s 50 day moving average price is $1.92 and its 200 day moving average price is $2.28.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.43. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 24.04%. The firm had revenue of $799.04 million for the quarter, compared to the consensus estimate of $806.62 million. During the same quarter last year, the business posted ($1.50) earnings per share. On average, analysts predict that iHeartMedia will post 0.19 EPS for the current fiscal year.

About iHeartMedia

iHeartMedia, Inc operates as an audio media company in the United States and internationally. It operates through three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment offers broadcast radio stations, sponsorship and events, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents syndicated radio programs and services to radio station affiliates.