Barrington Research Comments on iHeartMedia FY2024 Earnings

iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) - Research analysts at Barrington Research issued their FY2024 EPS estimates for shares of iHeartMedia in a research note issued on Tuesday, November 12th. Barrington Research analyst P. Sholl anticipates that the company will post earnings per share of $0.13 for the year. Barrington Research currently has a "Hold" rating on the stock. The consensus estimate for iHeartMedia's current full-year earnings is $0.19 per share. Barrington Research also issued estimates for iHeartMedia's Q4 2024 earnings at $0.42 EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at ($0.24) EPS and FY2026 earnings at $0.59 EPS.

Separately, Bank of America upgraded shares of iHeartMedia from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $1.00 to $3.00 in a research report on Tuesday.

iHeartMedia Price Performance

Shares of IHRT traded up $0.02 during midday trading on Thursday, reaching $2.31. The stock had a trading volume of 813,574 shares, compared to its average volume of 958,204. The firm's 50 day moving average price is $1.87 and its 200-day moving average price is $1.54. The company has a market capitalization of $339.13 million, a P/E ratio of -0.34, a P/E/G ratio of 0.47 and a beta of 1.69. iHeartMedia has a 52 week low of $0.81 and a 52 week high of $3.12.

Institutional Investors Weigh In On iHeartMedia

Several institutional investors and hedge funds have recently added to or reduced their stakes in IHRT. Aristeia Capital L.L.C. acquired a new position in shares of iHeartMedia during the 2nd quarter worth about $2,461,000. AQR Capital Management LLC increased its holdings in shares of iHeartMedia by 132.4% in the second quarter. AQR Capital Management LLC now owns 3,909,729 shares of the company's stock valued at $4,262,000 after purchasing an additional 2,227,676 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of iHeartMedia by 287.5% during the 2nd quarter. Acadian Asset Management LLC now owns 784,374 shares of the company's stock worth $854,000 after buying an additional 581,980 shares during the period. Vanguard Group Inc. increased its holdings in iHeartMedia by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company's stock valued at $13,754,000 after purchasing an additional 203,917 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of iHeartMedia by 169.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company's stock valued at $84,000 after acquiring an additional 25,001 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

iHeartMedia Company Profile

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.