iHeartMedia (NASDAQ:IHRT) Releases Earnings Results, Beats Estimates By $0.32 EPS

iHeartMedia (NASDAQ:IHRT - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.32, Zacks reports. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $1.17 billion.

iHeartMedia Stock Down 9.6 %

NASDAQ:IHRT traded down $0.17 during trading hours on Monday, reaching $1.60. The company had a trading volume of 1,597,801 shares, compared to its average volume of 672,821. The stock has a 50-day moving average of $2.16 and a two-hundred day moving average of $2.02. iHeartMedia has a one year low of $0.81 and a one year high of $2.84. The firm has a market capitalization of $235.32 million, a PE ratio of -0.24 and a beta of 1.73.

Analyst Ratings Changes

Several brokerages recently commented on IHRT. Guggenheim raised their target price on iHeartMedia from $3.00 to $5.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Bank of America raised shares of iHeartMedia from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $1.00 to $3.00 in a report on Tuesday, November 12th. Finally, Barrington Research raised shares of iHeartMedia to a "hold" rating in a research note on Tuesday, November 12th.

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.