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

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

A number of equities analysts have recently issued reports on IHRT shares. The Goldman Sachs Group cut their target price 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 lowered their target price on iHeartMedia from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, May 16th.

iHeartMedia Price Performance

IHRT opened at $0.87 on Friday. The business has a fifty day moving average price of $1.87 and a 200 day moving average price of $2.26. The stock has a market capitalization of $125.98 million, a price-to-earnings ratio of -0.14, a PEG ratio of 0.19 and a beta of 1.84. iHeartMedia has a 12 month low of $0.82 and a 12 month high of $4.74.

iHeartMedia (NASDAQ:IHRT) last announced its earnings results on Thursday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.43. The firm had revenue of $799.04 million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned ($1.50) EPS. On average, research analysts anticipate that iHeartMedia will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On iHeartMedia

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in iHeartMedia by 39.4% in the third quarter. Principal Financial Group Inc. now owns 15,207 shares of the company’s stock valued at $48,000 after purchasing an additional 4,301 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in iHeartMedia by 37.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,765 shares of the company’s stock worth $77,000 after purchasing an additional 7,882 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in iHeartMedia by 13.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,360 shares of the company’s stock worth $260,000 after purchasing an additional 9,609 shares in the last quarter. TCG Advisory Services LLC acquired a new position in iHeartMedia in the fourth quarter valued at approximately $27,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in iHeartMedia in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.