iHeartMedia, Inc. (NASDAQ:IHRT) Receives $3.00 Consensus PT from Analysts

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have received an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $3.00.

Several brokerages recently commented on IHRT. The Goldman Sachs Group cut their price target on shares of iHeartMedia from $2.00 to $1.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Bank of America reduced their price target on iHeartMedia from $1.70 to $1.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Finally, Guggenheim dropped their price objective on iHeartMedia from $5.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, May 16th.

iHeartMedia Stock Performance

Shares of iHeartMedia stock opened at $1.24 on Friday. The stock has a market cap of $179.55 million, a price-to-earnings ratio of -0.21, a price-to-earnings-growth ratio of 0.13 and a beta of 1.72. The stock has a 50 day moving average price of $1.19 and a 200-day moving average price of $1.92. iHeartMedia has a one year low of $0.81 and a one year high of $4.74.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.43. The firm had revenue of $799.04 million for the quarter, compared to analysts’ expectations of $806.62 million. During the same period in the previous year, the firm earned ($1.50) earnings per share. Sell-side analysts predict that iHeartMedia will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of iHeartMedia

A number of large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in iHeartMedia by 37.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,765 shares of the company’s stock worth $77,000 after acquiring an additional 7,882 shares in the last quarter. TCG Advisory Services LLC bought a new stake in shares of iHeartMedia in the 4th quarter valued at about $27,000. Readystate Asset Management LP lifted its position in shares of iHeartMedia by 25.6% in the 4th quarter. Readystate Asset Management LP now owns 71,521 shares of the company’s stock worth $191,000 after purchasing an additional 14,573 shares during the period. Tower Research Capital LLC TRC boosted 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 valued at $80,000 after purchasing an additional 20,607 shares in the last quarter. Finally, PFG Investments LLC purchased a new position in iHeartMedia during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

About iHeartMedia

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.