iHeartMedia, Inc. (NASDAQ:IHRT) Receives Average Rating of “Hold” from Analysts

iHeartMedia, Inc. (NASDAQ:IHRTGet Free Report) has been given a consensus recommendation of “Hold” by the six research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.00.

IHRT has been the subject of several research reports. The Goldman Sachs Group reduced their price objective on iHeartMedia from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Guggenheim decreased their target price on iHeartMedia from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Finally, Bank of America decreased their target price on iHeartMedia from $1.70 to $1.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd.

Read Our Latest Research Report on IHRT

Institutional Trading of iHeartMedia

Several hedge funds and other institutional investors have recently modified their holdings of IHRT. Principal Financial Group Inc. raised its holdings in shares of iHeartMedia by 39.4% during the third quarter. Principal Financial Group Inc. now owns 15,207 shares of the company’s stock worth $48,000 after acquiring an additional 4,301 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of iHeartMedia during the third quarter worth $111,000. Charles Schwab Investment Management Inc. raised its holdings in shares of iHeartMedia by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,565,409 shares of the company’s stock worth $11,267,000 after acquiring an additional 322,803 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in iHeartMedia during the third quarter valued at about $42,000. Finally, Wolverine Asset Management LLC raised its holdings in iHeartMedia by 64.6% during the third quarter. Wolverine Asset Management LLC now owns 427,982 shares of the company’s stock valued at $1,352,000 after buying an additional 167,986 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

iHeartMedia Stock Performance

Shares of NASDAQ IHRT opened at $1.08 on Wednesday. The firm has a market cap of $156.38 million, a P/E ratio of -0.18, a PEG ratio of 0.14 and a beta of 1.70. The stock has a fifty day moving average price of $1.54 and a two-hundred day moving average price of $2.08. iHeartMedia has a 1 year low of $0.81 and a 1 year high of $4.74.

iHeartMedia (NASDAQ:IHRTGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.43. The business had revenue of $799.04 million during the quarter, compared to analyst estimates of $806.62 million. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 24.04%. During the same period last year, the company posted ($1.50) EPS. On average, research analysts predict that iHeartMedia will post 0.32 earnings per share for the current fiscal year.

iHeartMedia Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for iHeartMedia (NASDAQ:IHRT)

Receive News & Ratings for iHeartMedia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iHeartMedia and related companies with MarketBeat.com's FREE daily email newsletter.