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

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have earned an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $3.00.

Several brokerages have recently commented on IHRT. Bank of America reduced their target price on iHeartMedia from $1.70 to $1.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Guggenheim decreased 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. Finally, The Goldman Sachs Group cut their price target on iHeartMedia from $2.00 to $1.00 and set a “neutral” rating for the company in a report on Monday, May 13th.

Hedge Funds Weigh In On iHeartMedia

Several large investors have recently made changes to their positions in the company. TCG Advisory Services LLC bought a new position in iHeartMedia in the fourth quarter valued at approximately $27,000. PFG Investments LLC acquired a new position in shares of iHeartMedia in the 1st quarter valued at $45,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of iHeartMedia by 37.7% in the 4th 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 during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of iHeartMedia by 216.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 30,117 shares of the company’s stock worth $80,000 after purchasing an additional 20,607 shares during the period. Finally, RPO LLC bought a new stake in iHeartMedia in the fourth quarter valued at about $91,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

iHeartMedia Trading Up 14.8 %

NASDAQ IHRT opened at $1.24 on Friday. iHeartMedia has a 1-year low of $0.81 and a 1-year high of $4.74. The stock’s 50 day moving average is $1.19 and its two-hundred day moving average is $1.92. The company has a market capitalization of $179.55 million, a price-to-earnings ratio of -0.21, a PEG ratio of 0.13 and a beta of 1.72.

iHeartMedia (NASDAQ:IHRT) last announced its earnings results on Thursday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.43. The firm had revenue of $799.04 million for the quarter, compared to analyst estimates of $806.62 million. During the same quarter last year, the business earned ($1.50) EPS. On average, analysts predict that iHeartMedia will post 0.32 earnings per share for the current year.

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.