iHeartMedia (NASDAQ:IHRT)'s stock had its "buy" rating reissued by B. Riley in a research note issued to investors on Tuesday, The Fly reports. B. Riley also issued estimates for iHeartMedia's FY2024 earnings at $3.75 EPS and FY2025 earnings at $3.64 EPS.
Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. raised iHeartMedia from an "underweight" rating to a "neutral" rating and upped their target price for the company from $13.00 to $17.00 in a report on Monday, March 22nd. Morgan Stanley increased their price objective on iHeartMedia from $14.00 to $20.00 and gave the company an "equal weight" rating in a report on Tuesday, April 13th. Wolfe Research raised iHeartMedia from a "peer perform" rating to an "outperform" rating and set a $24.00 target price on the stock in a report on Wednesday, March 31st. Zacks Investment Research downgraded iHeartMedia from a "buy" rating to a "hold" rating in a research report on Friday, February 19th. Finally, Wells Fargo & Company raised their price objective on iHeartMedia from $14.00 to $20.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. The company currently has an average rating of "Buy" and a consensus target price of $18.11.
Shares of NASDAQ:IHRT traded up $0.26 during trading hours on Tuesday, hitting $19.71. The company's stock had a trading volume of 11,101 shares, compared to its average volume of 1,213,737. The firm's fifty day moving average price is $17.57 and its 200 day moving average price is $14.21. iHeartMedia has a 52 week low of $5.61 and a 52 week high of $20.31.
iHeartMedia (NASDAQ:IHRT) last issued its quarterly earnings results on Thursday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.29 by ($0.24). The firm had revenue of $935.53 million for the quarter, compared to analyst estimates of $886.48 million. On average, research analysts predict that iHeartMedia will post -0.87 EPS for the current fiscal year.
Several large investors have recently modified their holdings of IHRT. Planned Solutions Inc. purchased a new stake in iHeartMedia during the 4th quarter worth approximately $25,000. Steward Partners Investment Advisory LLC acquired a new position in iHeartMedia in the 4th quarter valued at about $40,000. Public Employees Retirement System of Ohio grew its stake in iHeartMedia by 54.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 7,221 shares of the company's stock worth $59,000 after buying an additional 2,541 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of iHeartMedia by 94.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,637 shares of the company's stock worth $99,000 after purchasing an additional 3,714 shares in the last quarter. Finally, Barclays PLC boosted its stake in iHeartMedia by 12,394.1% during the fourth quarter. Barclays PLC now owns 8,496 shares of the company's stock valued at $110,000 after buying an additional 8,428 shares in the last quarter.
iHeartMedia Company Profile
iHeartMedia, Inc operates as a media and entertainment company worldwide. It operates through two segments, Audio, and Audio & Media Services. The Audio segment offers broadcast radio, digital, mobile, podcasts, social, program syndication, traffic, weather, news and sports data distribution, and on-demand entertainment, as well as live events, including mobile platforms and products; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,500 radio station affiliates.
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