Analysts Set iHeartMedia, Inc. (NASDAQ:IHRT) Price Target at $4.33

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have been given an average rating of “Reduce” by the five research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4.3333.

A number of brokerages have recently issued reports on IHRT. Bank of America boosted their price objective on iHeartMedia from $3.00 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of iHeartMedia in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group lowered iHeartMedia from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $4.00 to $3.50 in a report on Friday, January 9th.

iHeartMedia Price Performance

NASDAQ:IHRT opened at $3.45 on Tuesday. The company has a market cap of $518.05 million, a P/E ratio of -1.33, a P/E/G ratio of 0.30 and a beta of 1.70. The firm’s fifty day moving average price is $3.92 and its two-hundred day moving average price is $3.25. iHeartMedia has a one year low of $0.95 and a one year high of $5.44.

iHeartMedia (NASDAQ:IHRT) last announced its earnings results on Monday, November 10th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.64. The business had revenue of $997.01 million during the quarter, compared to the consensus estimate of $1.07 billion. iHeartMedia had a negative net margin of 10.37% and a negative return on equity of 1.63%. As a group, equities research analysts expect that iHeartMedia will post -0.13 earnings per share for the current year.

Institutional Trading of iHeartMedia

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of iHeartMedia by 20.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,687 shares of the company’s stock worth $102,000 after purchasing an additional 4,118 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of iHeartMedia by 2.7% in the third quarter. Rhumbline Advisers now owns 172,609 shares of the company’s stock valued at $495,000 after buying an additional 4,603 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of iHeartMedia by 42.8% in the second quarter. BNP Paribas Financial Markets now owns 18,655 shares of the company’s stock valued at $33,000 after buying an additional 5,591 shares during the period. The Manufacturers Life Insurance Company grew its position in iHeartMedia by 15.0% during the second quarter. The Manufacturers Life Insurance Company now owns 43,613 shares of the company’s stock worth $77,000 after buying an additional 5,684 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in iHeartMedia by 26.5% during the 4th quarter. Cerity Partners LLC now owns 29,527 shares of the company’s stock worth $123,000 after acquiring an additional 6,186 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

About iHeartMedia

iHeartMedia, Inc (NASDAQ: IHRT) is a leading media and entertainment company specializing in radio broadcasting, digital streaming and live events. The company operates more than 860 full-power AM and FM radio stations across the United States, delivering music, news, sports and talk programming to local markets. Through its flagship digital platform, iHeartRadio, the company provides listeners with free and subscription-based access to thousands of live radio stations, curated music playlists and on-demand podcasts.

Originally founded in 1972 as Clear Channel Communications, the business rebranded to iHeartMedia in 2014 to reflect the growing importance of its digital and event-driven offerings.