iHeartMedia, Inc. (NASDAQ:IHRT) Receives $4.50 Consensus PT from Analysts

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have received an average recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.50.

Several equities research analysts have issued reports on IHRT shares. The Goldman Sachs Group lifted their price target on shares of iHeartMedia from $1.25 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Bank of America lifted their target price on iHeartMedia from $3.00 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iHeartMedia in a research report on Wednesday, October 8th.

iHeartMedia Stock Performance

Shares of iHeartMedia stock opened at $4.41 on Monday. The firm has a market cap of $662.21 million, a PE ratio of -1.70 and a beta of 1.69. The business’s 50 day simple moving average is $3.96 and its 200 day simple moving average is $2.82. iHeartMedia has a 52-week low of $0.95 and a 52-week high of $5.44.

iHeartMedia (NASDAQ:IHRT) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.64. iHeartMedia had a negative net margin of 10.37% and a negative return on equity of 1.63%. The company had revenue of $997.01 million during the quarter, compared to analysts’ expectations of $1.07 billion. As a group, equities research analysts predict that iHeartMedia will post -0.13 EPS for the current year.

Hedge Funds Weigh In On iHeartMedia

A number of institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new stake in iHeartMedia in the third quarter valued at $36,000. Sona Asset Management US LLC bought a new stake in shares of iHeartMedia in the 3rd quarter valued at about $167,000. Quarry LP acquired a new stake in iHeartMedia in the 3rd quarter valued at about $221,000. Nomura Holdings Inc. lifted its stake in iHeartMedia by 54.2% in the 3rd quarter. Nomura Holdings Inc. now owns 39,666 shares of the company’s stock valued at $114,000 after purchasing an additional 13,937 shares during the last quarter. Finally, Millennium Management LLC bought a new position in iHeartMedia during the third quarter worth about $2,204,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

About iHeartMedia

iHeartMedia, Inc (NASDAQ: IHRT) is a leading media and entertainment company specializing in radio broadcasting, digital streaming and live events. The company operates more than 860 full-power AM and FM radio stations across the United States, delivering music, news, sports and talk programming to local markets. Through its flagship digital platform, iHeartRadio, the company provides listeners with free and subscription-based access to thousands of live radio stations, curated music playlists and on-demand podcasts.

Originally founded in 1972 as Clear Channel Communications, the business rebranded to iHeartMedia in 2014 to reflect the growing importance of its digital and event-driven offerings.