Brokerages Set iHeartMedia, Inc. (NASDAQ:IHRT) PT at $4.07

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment 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 12-month target price among brokerages that have issued a report on the stock in the last year is $4.07.

Separately, Guggenheim lowered their target price on shares of iHeartMedia from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

iHeartMedia Price Performance

NASDAQ IHRT opened at $2.10 on Tuesday. The company’s 50 day simple moving average is $2.16 and its 200 day simple moving average is $2.38. iHeartMedia has a 12 month low of $1.77 and a 12 month high of $4.74. The company has a market capitalization of $303.98 million, a P/E ratio of -0.28 and a beta of 1.88.

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

Institutional Trading of iHeartMedia

Hedge funds have recently modified their holdings of the company. Kent Lake Capital LLC acquired a new stake in shares of iHeartMedia in the 4th quarter valued at approximately $1,736,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of iHeartMedia in the 3rd quarter valued at approximately $1,654,000. Charles Schwab Investment Management Inc. raised its position in shares of iHeartMedia by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,565,409 shares of the company’s stock valued at $11,267,000 after acquiring an additional 322,803 shares during the period. Vanguard Group Inc. raised its position in shares of iHeartMedia by 0.4% in the 3rd 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 period. Finally, Exchange Traded Concepts LLC raised its position in shares of iHeartMedia by 103.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 103,853 shares of the company’s stock valued at $277,000 after acquiring an additional 52,926 shares during the period. 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.