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

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have been given an average recommendation of “Hold” by the six research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.07.

Separately, Guggenheim dropped their price objective on iHeartMedia from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, March 4th.

iHeartMedia Trading Up 2.4 %

Shares of NASDAQ:IHRT opened at $1.95 on Tuesday. The company has a 50-day moving average price of $2.19 and a 200 day moving average price of $2.39. The company has a market cap of $281.54 million, a price-to-earnings ratio of -0.26 and a beta of 1.88. iHeartMedia has a 12 month low of $1.78 and a 12 month high of $4.74.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 29.40%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. As a group, equities analysts forecast that iHeartMedia will post 0.05 EPS for the current year.

Hedge Funds Weigh In On iHeartMedia

Several large investors have recently made changes to their positions in the company. Bridgecreek Investment Management LLC purchased a new stake in iHeartMedia in the 3rd quarter worth $32,000. TCG Advisory Services LLC purchased a new stake in shares of iHeartMedia during the 4th quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of iHeartMedia during the 3rd quarter worth about $42,000. Principal Financial Group Inc. raised its stake in shares of iHeartMedia by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 15,207 shares of the company’s stock valued at $48,000 after acquiring an additional 4,301 shares during the period. Finally, Barclays PLC grew its stake in shares of iHeartMedia by 679.1% in the second quarter. Barclays PLC now owns 17,568 shares of the company’s stock valued at $64,000 after buying an additional 15,313 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

iHeartMedia Company Profile

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.