iHeartMedia, Inc. (NASDAQ:IHRT) Receives $4.07 Average Price Target from Brokerages

iHeartMedia, Inc. (NASDAQ:IHRTGet Free Report) has received an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.07.

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

View Our Latest Research Report on IHRT

Institutional Investors Weigh In On iHeartMedia

Hedge funds and other institutional investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of iHeartMedia during the 3rd quarter worth about $1,654,000. Charles Schwab Investment Management Inc. raised its stake in shares of iHeartMedia by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,565,409 shares of the company’s stock worth $11,267,000 after purchasing an additional 322,803 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in shares of iHeartMedia by 45.5% during the 3rd quarter. Douglas Lane & Associates LLC now owns 8,273,158 shares of the company’s stock worth $26,143,000 after purchasing an additional 2,586,256 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of iHeartMedia by 103.9% during the 4th 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 in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of iHeartMedia in the 3rd quarter valued at approximately $134,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

iHeartMedia Stock Down 2.3 %

NASDAQ:IHRT opened at $2.09 on Friday. iHeartMedia has a 1-year low of $1.77 and a 1-year high of $4.74. The firm has a market capitalization of $302.53 million, a price-to-earnings ratio of -0.28 and a beta of 1.91. The stock has a fifty day simple moving average of $2.37 and a 200 day simple moving average of $2.52.

iHeartMedia (NASDAQ:IHRTGet Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share 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 business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company posted $0.54 EPS. Equities analysts predict that iHeartMedia will post 0.05 earnings per share for the current year.

About iHeartMedia

(Get Free Report

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.

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Analyst Recommendations for iHeartMedia (NASDAQ:IHRT)

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