– $ 0.12 in earnings per share expected for iHeartMedia, Inc. (NASDAQ: IHRT) this quarter
Wall Street analysts predict that iHeartMedia, Inc. (NASDAQ: IHRT) will report ($ 0.12) earnings per share (EPS) for the current fiscal quarter, according to Zacks investment research. Three analysts have estimated iHeartMedia’s earnings. The lowest EPS estimate is ($ 0.19) and the highest is ($ 0.07). iHeartMedia reported earnings of ($ 1.23) per share for the same quarter last year, indicating a positive year-over-year growth rate of 90.2%. The company is expected to release its next earnings report after the market closes on Thursday, August 5.
On average, analysts expect iHeartMedia to report annual earnings of ($ 0.99) per share for the current year, with EPS estimates ranging from ($ 1.12) to (0, $ 89). For the next fiscal year, analysts expect the company to report earnings of $ 1.72 per share, with EPS estimates ranging from $ 0.91 to $ 2.37. Zacks Investment Research EPS averages are an average based on a survey of sales analysts who follow iHeartMedia.
iHeartMedia (NASDAQ: IHRT) last released its results on Thursday, May 6. The company reported ($ 1.39) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($ 0.50) by ($ 0.89). The company posted revenue of $ 706.67 million for the quarter, compared to analysts’ estimates of $ 689.00 million.
Several research companies have recently weighed in on IHRT. Morgan Stanley raised its price target for iHeartMedia shares from $ 22.00 to $ 23.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 8. Bank of America downgraded iHeartMedia from an “underperformance” rating to a “buy” rating and set a price target of $ 26.00 on the stock in a research note on Tuesday, April 13 . B. Riley reaffirmed a “buy” note and issued a price target of $ 35 (up from $ 30 previously) on iHeartMedia shares in a report released on Tuesday, June 29. JPMorgan Chase & Co. upgraded iHeartMedia shares from a “neutral” to an “overweight” rating and raised its target price for the company from $ 17.00 to $ 29.00 in a research note Monday May 10. Finally, Wolfe Research upgraded iHeartMedia shares from a “peer performance” rating to an “outperformance” rating and set a target price of $ 24.00 on the stock in a rating of. looking for Thursday, March 25. One research analyst rated the stock with a sell rating, another assigned a conservation rating, and seven assigned a buy rating to the company. iHeartMedia has an average “Buy” rating and a consensus target price of $ 26.67.
IHRT stock opened at $ 25.01 on Friday. The company has a market cap of $ 3.52 billion, a price-to-earnings ratio of -7.82 and a beta of 2.30. The company’s 50-day mobile average price is $ 24.79. iHeartMedia has a 12 month low of $ 7.41 and a 12 month high of $ 28.24.
In other iHeartMedia news, CFO Michael B. Mcguinness sold 20,000 shares of the company in a trade on Friday, May 14. The shares were sold at an average price of $ 22.45, for a total trade of $ 449,000.00. As a result of the sale, the CFO now directly owns 18,630 shares of the company, valued at approximately $ 418,243.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the shares of the company.
Hedge funds have recently bought and sold stocks. Rhumbline Advisers strengthened its position in iHeartMedia by 14.6% in the 4th quarter. Rhumbline Advisers now owns 96,879 shares of the company valued at $ 1,257,000 after purchasing an additional 12,312 shares in the last quarter. Citigroup Inc. strengthened its position in iHeartMedia by 47.1% in the fourth quarter. Citigroup Inc. now owns 12,646 shares of the company valued at $ 164,000 after purchasing an additional 4,048 shares during the last quarter. Barclays PLC increased its stake in iHeartMedia by 12,394.1% in the fourth quarter. Barclays PLC now owns 8,496 shares of the company valued at $ 110,000 after purchasing an additional 8,428 shares in the last quarter. Credit Suisse AG increased its stake in iHeartMedia shares by 59.4% during the 4th quarter. Credit Suisse AG now owns 64,300 shares of the company valued at $ 835,000 after purchasing an additional 23,965 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in iHeartMedia shares by 5.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 35,487 shares of the company valued at $ 461,000 after purchasing an additional 1,922 shares in the last quarter. Institutional investors and hedge funds hold 67.60% of the company’s shares.
iHeartMedia, Inc. operates as a worldwide media and entertainment company. It operates through two segments, Audio and Audio & Media Services. The Audio segment offers radio, digital, mobile, podcast, social, program syndication, traffic, weather, news and sport data distribution, and on-demand entertainment services, as well as live events. direct, including mobile platforms and products; and operates Premiere Networks, a national radio network that produces, distributes or represents approximately 120 subscribed radio programs and services from approximately 6,500 affiliated radio stations.
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