iHeartMedia, Inc. to Post Q1 2023 Earnings of ($0.81) Per Share, B. Riley Forecasts (NASDAQ:IHRT)

iHeartMedia, Inc. (NASDAQ:IHRT – Get Rating) – Analysts at B. Riley issued their Q1 2023 EPS estimates for iHeartMedia in a research report issued to clients and investors on Wednesday, March 1st. B. Riley analyst D. Day anticipates that the company will post earnings of ($0.81) per share for the quarter. The consensus estimate for iHeartMedia’s current full-year earnings is $0.27 per share. B. Riley also issued estimates for iHeartMedia’s Q2 2023 earnings at ($0.24) EPS, Q3 2023 earnings at $0.02 EPS, FY2023 earnings at ($0.73) EPS, FY2024 earnings at $1.11 EPS, FY2025 earnings at $1.26 EPS and FY2026 earnings at $1.88 EPS.

Several other research firms also recently commented on IHRT. Barrington Research downgraded shares of iHeartMedia from an “outperform” rating to a “market perform” rating in a report on Wednesday. JPMorgan Chase & Co. cut shares of iHeartMedia from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $10.00 to $5.00 in a research report on Wednesday. Finally, Wells Fargo & Company reduced their target price on shares of iHeartMedia from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, iHeartMedia has an average rating of “Hold” and a consensus price target of $9.86.

iHeartMedia Price Performance

NASDAQ:IHRT opened at $5.29 on Friday. iHeartMedia has a one year low of $4.38 and a one year high of $20.74. The company has a market cap of $757.73 million, a P/E ratio of -2.97, a P/E/G ratio of 2.94 and a beta of 1.74. The firm’s fifty day moving average price is $7.15 and its two-hundred day moving average price is $7.92. The company has a debt-to-equity ratio of 7.91, a current ratio of 1.77 and a quick ratio of 1.90.

Institutional Investors Weigh In On iHeartMedia

Institutional investors and hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in iHeartMedia during the second quarter worth about $440,000. Nisa Investment Advisors LLC lifted its holdings in shares of iHeartMedia by 58.8% in the third quarter. Nisa Investment Advisors LLC now owns 7,164 shares of the company’s stock worth $59,000 after acquiring an additional 2,654 shares during the last quarter. Bank of Montreal Can bought a new position in shares of iHeartMedia in the second quarter worth about $3,472,000. Whitebox Advisors LLC bought a new position in shares of iHeartMedia in the third quarter worth about $186,000. Finally, Fox Run Management L.L.C. bought a new position in shares of iHeartMedia in the third quarter worth about $74,000. Institutional investors own 72.30% of the company’s stock.

iHeartMedia Company Profile

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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.