iHeartMedia (NASDAQ:IHRT) Downgraded by Bank of America to "Underperform"

Key Points

• Bank of America downgraded iHeartMedia to “underperform” from “neutral,” setting a $1 price target. Other analysts have also issued sell ratings, and MarketBeat reports an overall “Strong Sell” consensus.
• iHeartMedia’s latest quarter missed expectations, with a loss of $0.06 per share versus the $0.02 loss analysts expected and revenue of $1.03 billion versus a $1.05 billion estimate. The company also cut its 2026 adjusted EBITDA outlook to $550 million–$600 million from about $800 million.
• Podcasting offered a bright spot: revenue increased 24.6% year over year to $174 million in the third quarter. iHeartMedia plans to report podcasting as a standalone segment beginning in 2027.

iHeartMedia (NASDAQ:IHRT - Get Free Report) was downgraded by equities researchers at Bank of America from a "neutral" rating to an "underperform" rating in a research report issued on Thursday, FinViz reports. They currently have a $1.00 target price on the stock. Bank of America's price objective suggests a potential upside of 42.84% from the company's current price.

Several other research analysts also recently commented on the company. Zacks Research downgraded iHeartMedia from a "hold" rating to a "strong sell" rating in a report on Friday, October 16th. Weiss Ratings restated a "sell (d-)" rating on shares of iHeartMedia in a research note on Thursday, October 15th. Four research analysts have rated the stock with a Sell rating. According to MarketBeat, iHeartMedia currently has an average rating of "Strong Sell" and an average price target of $2.25.

iHeartMedia Trading Up 13.1%

NASDAQ:IHRT opened at $0.70 on Thursday. The company has a market cap of $108.37 million, a price-to-earnings ratio of -0.48 and a beta of 2.47. iHeartMedia has a twelve month low of $0.59 and a twelve month high of $6.56. The stock has a fifty day simple moving average of $2.05 and a 200-day simple moving average of $3.31.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.05 billion. As a group, equities research analysts predict that iHeartMedia will post -0.54 EPS for the current fiscal year.

Institutional Trading of iHeartMedia

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in shares of iHeartMedia in the 2nd quarter worth $1,628,000. Whitebox Advisors LLC grew its stake in iHeartMedia by 220.0% in the first quarter. Whitebox Advisors LLC now owns 400,000 shares of the company's stock valued at $1,168,000 after purchasing an additional 275,000 shares during the last quarter. Sona Asset Management US LLC raised its holdings in iHeartMedia by 15.5% in the first quarter. Sona Asset Management US LLC now owns 1,874,668 shares of the company's stock worth $5,474,000 after purchasing an additional 251,097 shares in the last quarter. Squarepoint Ops LLC bought a new position in iHeartMedia in the second quarter worth about $199,000. Finally, Douglas Lane & Associates LLC lifted its position in shares of iHeartMedia by 1.1% during the third quarter. Douglas Lane & Associates LLC now owns 3,811,866 shares of the company's stock valued at $8,005,000 after buying an additional 42,787 shares during the last quarter. Institutional investors own 93.89% of the company's stock.

iHeartMedia News Roundup

Here's some of the latest news about IHRT:

• Positive Sentiment: Podcasting revenue grew 24.6% year over year to $174 million in the third quarter. The company plans to report podcasting as a standalone segment beginning in 2027, which may help investors assess the business separately. iHeartMedia: 3 Key Takeaways for Long-Term Investors
• Negative Sentiment: The company cut its 2026 adjusted EBITDA forecast to $550 million–$600 million, from an approximately $800 million target, after political advertising fell short of expectations. The lowered outlook and disappointing third-quarter results weigh on the outlook for earnings. IHRT Q3 2026 Deep Dive
• Negative Sentiment: Law firms have announced investigations into potential securities claims related to iHeartMedia’s earlier EBITDA guidance and its subsequent reduction. These are investigations, not findings of wrongdoing, but could add uncertainty for shareholders. SueWallSt Shareholder Investigation Notice

iHeartMedia Company Profile

iHeartMedia is an audio media company whose businesses include broadcast radio, digital audio, podcasting, live events and advertising services. Its radio programming spans music, news, talk and sports, while its digital offerings include the iHeartRadio platform and a broad selection of podcasts. The company serves audiences and advertisers primarily in the United States. Its services also include audio advertising and marketing solutions that connect brands with listeners across broadcast and digital channels. iHeartMedia traces its roots to radio broadcasting in San Antonio and operated for many years as Clear Channel Communications.

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