B. Riley Analysts Decrease Earnings Estimates for iHeartMedia, Inc. (NASDAQ:IHRT)

iHeartMedia, Inc. (NASDAQ:IHRTGet Rating) – Equities research analysts at B. Riley reduced their Q3 2022 earnings estimates for shares of iHeartMedia in a research report issued on Friday, May 6th. B. Riley analyst D. Day now forecasts that the company will earn $0.52 per share for the quarter, down from their prior forecast of $0.64. B. Riley also issued estimates for iHeartMedia’s Q4 2022 earnings at $0.93 EPS, FY2024 earnings at $2.56 EPS and FY2025 earnings at $2.47 EPS.

iHeartMedia (NASDAQ:IHRTGet Rating) last released its earnings results on Wednesday, February 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.54 by $0.22. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion.

Separately, Zacks Investment Research downgraded iHeartMedia from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $29.83.

Shares of IHRT opened at $14.01 on Monday. iHeartMedia has a one year low of $13.88 and a one year high of $28.24. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 60.92, a P/E/G ratio of 1.44 and a beta of 1.73. The business has a fifty day moving average price of $18.65.

Several hedge funds and other institutional investors have recently bought and sold shares of IHRT. Goldman Sachs Group Inc. lifted its stake in iHeartMedia by 52.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,788,132 shares of the company’s stock worth $79,703,000 after purchasing an additional 1,299,514 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of iHeartMedia by 4.0% in the 4th quarter. Allianz Asset Management GmbH now owns 22,682,770 shares of the company’s stock valued at $477,245,000 after buying an additional 878,492 shares during the period. Norges Bank acquired a new position in iHeartMedia during the 4th quarter worth approximately $12,007,000. Douglas Lane & Associates LLC grew its stake in shares of iHeartMedia by 42.5% during the fourth quarter. Douglas Lane & Associates LLC now owns 1,867,128 shares of the company’s stock worth $39,284,000 after purchasing an additional 556,954 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of iHeartMedia by 2,081.6% during the 4th quarter. Renaissance Technologies LLC now owns 453,777 shares of the company’s stock worth $9,547,000 after acquiring an additional 432,977 shares in the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.

In other iHeartMedia news, major shareholder Media & Entertainment I. Global acquired 453,496 shares of the company’s stock in a transaction dated Wednesday, April 13th. The shares were acquired at an average cost of $18.79 per share, with a total value of $8,521,189.84. Following the acquisition, the insider now directly owns 12,557,692 shares of the company’s stock, valued at $235,959,032.68. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Media & Entertainment I. Global bought 619,937 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The shares were bought at an average cost of $17.74 per share, for a total transaction of $10,997,682.38. Following the completion of the acquisition, the insider now owns 14,027,075 shares of the company’s stock, valued at $248,840,310.50. The disclosure for this purchase can be found here. Insiders acquired 1,824,576 shares of company stock worth $31,670,077 in the last quarter. 2.90% of the stock is owned by insiders.

iHeartMedia Company Profile (Get Rating)

iHeartMedia, Inc operates as a media and entertainment company worldwide. 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 live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.

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Earnings History and Estimates for iHeartMedia (NASDAQ:IHRT)

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