iHeartMedia (NASDAQ:IHRT) Price Target Increased to $20.00 by Analysts at Morgan Stanley

iHeartMedia (NASDAQ:IHRT) had its price target increased by Morgan Stanley from $14.00 to $20.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the stock.

IHRT has been the subject of a number of other research reports. B. Riley reissued a buy rating and set a $17.00 target price on shares of iHeartMedia in a research note on Wednesday, February 3rd. Wells Fargo & Company lifted their price objective on shares of iHeartMedia from $14.00 to $20.00 and gave the company an overweight rating in a research note on Tuesday, January 19th. Wolfe Research raised shares of iHeartMedia from a peer perform rating to an outperform rating and set a $24.00 price objective for the company in a research note on Wednesday, March 31st. JPMorgan Chase & Co. raised shares of iHeartMedia from an underweight rating to a neutral rating and lifted their price objective for the company from $13.00 to $17.00 in a research note on Monday, March 22nd. Finally, Zacks Investment Research lowered shares of iHeartMedia from a buy rating to a hold rating in a research note on Friday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $16.33.

Shares of NASDAQ:IHRT opened at $17.83 on Wednesday. The firm has a fifty day moving average of $16.39 and a two-hundred day moving average of $13.75. iHeartMedia has a 12-month low of $5.61 and a 12-month high of $19.10.

iHeartMedia (NASDAQ:IHRT) last issued its earnings results on Thursday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.24). The business had revenue of $935.53 million for the quarter, compared to the consensus estimate of $886.48 million. Equities analysts forecast that iHeartMedia will post -0.87 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of iHeartMedia by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,563 shares of the company’s stock worth $3,139,000 after purchasing an additional 1,603 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of iHeartMedia by 25.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,084 shares of the company’s stock worth $118,000 after purchasing an additional 1,863 shares during the period. Planned Solutions Inc. bought a new position in shares of iHeartMedia during the 4th quarter worth about $25,000. The Manufacturers Life Insurance Company increased its holdings in shares of iHeartMedia by 5.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 35,487 shares of the company’s stock worth $461,000 after purchasing an additional 1,922 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of iHeartMedia during the 4th quarter worth about $40,000.

iHeartMedia Company Profile

iHeartMedia, Inc operates as a media and entertainment company worldwide. It operates through two segments, Audio, and Audio and Media Services. The Audio segment offers broadcast radio, digital, mobile, podcasts, social, program syndication, traffic, weather, news and sports data distribution, and on-demand entertainment, as well as live events, including mobile platforms and products; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,200 radio station affiliates.

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Analyst Recommendations for iHeartMedia (NASDAQ:IHRT)

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