Brokers Issue Forecasts for iHeartMedia FY2024 Earnings

iHeartMedia, Inc. (NASDAQ:IHRT) – Equities research analysts at Barrington Research issued their FY2024 EPS estimates for iHeartMedia in a research note issued on Tuesday, November 12th. Barrington Research analyst P. Sholl anticipates that the company will earn $0.13 per share for the year. Barrington Research has a “Hold” rating on the stock. The consensus estimate for iHeartMedia’s current full-year earnings is ($2.07) per share. Barrington Research also issued estimates for iHeartMedia’s Q4 2024 earnings at $0.42 EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at ($0.24) EPS and FY2026 earnings at $0.59 EPS.

Separately, Bank of America upgraded shares of iHeartMedia from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $1.00 to $3.00 in a report on Tuesday.

iHeartMedia Stock Performance

iHeartMedia stock opened at $2.21 on Thursday. The company has a market capitalization of $324.44 million, a price-to-earnings ratio of -0.33, a price-to-earnings-growth ratio of 0.45 and a beta of 1.69. The company’s 50 day simple moving average is $1.90 and its 200-day simple moving average is $1.55. iHeartMedia has a 1 year low of $0.81 and a 1 year high of $3.12.

Insider Activity at iHeartMedia

In related news, Director James A. Rasulo sold 40,223 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $2.40, for a total transaction of $96,535.20. Following the sale, the director now directly owns 339,322 shares of the company’s stock, valued at $814,372.80. This represents a 10.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On iHeartMedia

Several institutional investors have recently modified their holdings of the business. FMR LLC raised its stake in shares of iHeartMedia by 25.2% in the third quarter. FMR LLC now owns 22,879 shares of the company’s stock valued at $42,000 after acquiring an additional 4,598 shares in the last quarter. Intech Investment Management LLC acquired a new stake in iHeartMedia in the 3rd quarter valued at about $45,000. Optas LLC purchased a new position in shares of iHeartMedia in the 2nd quarter valued at about $29,000. Quadrature Capital Ltd acquired a new position in shares of iHeartMedia during the third quarter worth about $56,000. Finally, PFG Investments LLC increased its stake in shares of iHeartMedia by 53.5% during the second quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock worth $36,000 after buying an additional 11,500 shares during the period. 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.