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

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have earned a consensus rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.50.

Several equities research analysts have weighed in 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. Weiss Ratings restated a “sell (d-)” rating on shares of iHeartMedia in a research note on Wednesday, October 8th. Finally, Bank of America upped their price target on iHeartMedia from $3.00 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th.

Hedge Funds Weigh In On iHeartMedia

A number of large investors have recently modified their holdings of the company. Global Media & Entertainment Investments Ltd acquired a new stake in iHeartMedia in the 3rd quarter valued at $52,061,800,000. Vanguard Group Inc. lifted its stake in shares of iHeartMedia by 1.4% in the third quarter. Vanguard Group Inc. now owns 7,022,354 shares of the company’s stock valued at $20,154,000 after buying an additional 93,757 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of iHeartMedia by 2.7% during the second quarter. Acadian Asset Management LLC now owns 3,307,000 shares of the company’s stock valued at $5,815,000 after buying an additional 85,957 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of iHeartMedia by 22.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,872,316 shares of the company’s stock valued at $4,739,000 after buying an additional 532,414 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of iHeartMedia by 7.1% during the second quarter. Geode Capital Management LLC now owns 2,822,306 shares of the company’s stock worth $4,968,000 after acquiring an additional 186,402 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

iHeartMedia Stock Performance

iHeartMedia stock opened at $4.43 on Monday. The stock has a market capitalization of $665.21 million, a price-to-earnings ratio of -1.71 and a beta of 1.69. iHeartMedia has a 52-week low of $0.95 and a 52-week high of $5.44. The stock’s 50 day moving average price is $3.89 and its two-hundred day moving average price is $2.79.

iHeartMedia (NASDAQ:IHRT) last released its quarterly earnings data on Monday, November 10th. The company reported $0.63 earnings per share for the quarter, beating 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 analyst estimates of $1.07 billion. On average, equities research analysts forecast that iHeartMedia will post -0.13 EPS for the current year.

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.