iHeartMedia, Inc. (NASDAQ:IHRT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $3.00.

A number of equities analysts have recently issued reports on the company. Bank of America cut their price objective on iHeartMedia from $1.70 to $1.00 and set an “underperform” rating for the company in a report on Monday, June 3rd. Guggenheim reduced their price target on shares of iHeartMedia from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Finally, The Goldman Sachs Group decreased their price target on shares of iHeartMedia from $2.00 to $1.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th.

iHeartMedia Price Performance

IHRT stock opened at $1.24 on Friday. The firm has a 50 day simple moving average of $1.19 and a two-hundred day simple moving average of $1.92. The stock has a market cap of $179.55 million, a PE ratio of -0.21, a P/E/G ratio of 0.13 and a beta of 1.72. iHeartMedia has a one year low of $0.81 and a one year high of $4.74.

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 the consensus estimate of ($0.55) by $0.43. The company had revenue of $799.04 million during the quarter, compared to analysts’ expectations of $806.62 million. During the same quarter last year, the firm posted ($1.50) earnings per share. On average, research analysts expect that iHeartMedia will post 0.32 EPS for the current fiscal year.

Institutional Trading of iHeartMedia

A number of institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC purchased a new stake in iHeartMedia during the 3rd quarter valued at $1,654,000. Vanguard Group Inc. raised its stake in shares of iHeartMedia by 0.4% during the third quarter. Vanguard Group Inc. now owns 8,430,714 shares of the company’s stock valued at $26,641,000 after acquiring an additional 36,231 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of iHeartMedia by 103.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 103,853 shares of the company’s stock worth $277,000 after purchasing an additional 52,926 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of iHeartMedia by 37.7% in the fourth 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. Finally, Federated Hermes Inc. increased its holdings in iHeartMedia by 2.2% during the 4th quarter. Federated Hermes Inc. now owns 1,688,805 shares of the company’s stock valued at $4,509,000 after purchasing an additional 35,983 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.