iHeartMedia, Inc. (NASDAQ:IHRT) – Equities researchers at Barrington Research lowered their Q2 2021 EPS estimates for iHeartMedia in a research note issued to investors on Wednesday, May 12th. Barrington Research analyst J. Goss now expects that the company will earn $0.01 per share for the quarter, down from their previous estimate of $0.02. Barrington Research has a “Outperform” rating and a $29.00 price objective on the stock. Barrington Research also issued estimates for iHeartMedia’s Q2 2021 earnings at $0.01 EPS, Q4 2021 earnings at $0.54 EPS, FY2021 earnings at $0.03 EPS, Q2 2022 earnings at $0.19 EPS, Q3 2022 earnings at $0.40 EPS, Q4 2022 earnings at $0.82 EPS and FY2022 earnings at $1.05 EPS.
Several other equities analysts have also issued reports on IHRT. B. Riley reiterated a “buy” rating on shares of iHeartMedia in a research report on Tuesday, April 20th. JPMorgan Chase & Co. upgraded iHeartMedia from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $29.00 in a research report on Monday, May 10th. Wolfe Research upgraded iHeartMedia from a “peer perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Wednesday, March 31st. Bank of America upgraded iHeartMedia from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Monday, April 19th. Finally, Morgan Stanley boosted their price objective on iHeartMedia from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $23.00.
iHeartMedia (NASDAQ:IHRT) last posted its 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 during the quarter, compared to the consensus estimate of $886.48 million.
A number of large investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC boosted its position in iHeartMedia by 1.3% during the 1st quarter. Gabelli Funds LLC now owns 38,000 shares of the company’s stock worth $690,000 after acquiring an additional 500 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of iHeartMedia by 4.0% during the 1st quarter. Prudential Financial Inc. now owns 37,100 shares of the company’s stock worth $673,000 after purchasing an additional 1,410 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of iHeartMedia by 2,139.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,478 shares of the company’s stock worth $27,000 after purchasing an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of iHeartMedia by 25.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,084 shares of the company’s stock worth $118,000 after purchasing an additional 1,863 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of iHeartMedia during the 4th quarter worth approximately $25,000.
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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