iHeartMedia, Inc. (NASDAQ:IHRT) Given Average Rating of “Hold” by Brokerages

iHeartMedia, Inc. (NASDAQ:IHRT) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have 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 $4.07.

Separately, Guggenheim dropped their target price on iHeartMedia from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 4th.

iHeartMedia Trading Up 1.9 %

Shares of NASDAQ IHRT opened at $2.14 on Tuesday. iHeartMedia has a 12 month low of $1.77 and a 12 month high of $4.74. The firm has a market capitalization of $309.77 million, a price-to-earnings ratio of -0.29 and a beta of 1.88. The business has a 50-day moving average of $2.15 and a 200-day moving average of $2.38.

iHeartMedia (NASDAQ:IHRT) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.05 by $0.04. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 29.40%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, analysts predict that iHeartMedia will post 0.05 earnings per share for the current year.

Institutional Trading of iHeartMedia

Several hedge funds and other institutional investors have recently bought and sold shares of IHRT. TCG Advisory Services LLC bought a new stake in iHeartMedia in the fourth quarter valued at approximately $27,000. Bridgecreek Investment Management LLC bought a new stake in iHeartMedia in the third quarter valued at approximately $32,000. Vanguard Personalized Indexing Management LLC bought a new stake in iHeartMedia in the third quarter valued at approximately $42,000. PFG Investments LLC bought a new stake in iHeartMedia in the first quarter valued at approximately $45,000. Finally, Principal Financial Group Inc. lifted its position in iHeartMedia by 39.4% in the third quarter. Principal Financial Group Inc. now owns 15,207 shares of the company’s stock valued at $48,000 after purchasing an additional 4,301 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

About iHeartMedia

iHeartMedia, Inc operates as an audio media company in the United States and internationally. 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 events, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents syndicated radio programs and services to radio station affiliates.