Barrington Research Comments on iHeartMedia FY2024 Earnings

iHeartMedia, Inc. (NASDAQ:IHRT) – Stock analysts at Barrington Research issued their FY2024 earnings per share (EPS) estimates for iHeartMedia in a report issued on Tuesday, November 12th. Barrington Research analyst P. Sholl anticipates that the company will post earnings of $0.13 per share 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 iHeartMedia from an “underperform” rating to a “neutral” rating and increased their price target for the company from $1.00 to $3.00 in a report on Tuesday.

iHeartMedia Stock Performance

Shares of IHRT stock opened at $2.31 on Thursday. The stock’s 50 day simple moving average is $1.87 and its 200 day simple moving average is $1.54. iHeartMedia has a twelve month low of $0.81 and a twelve month high of $3.12. The company has a market capitalization of $339.13 million, a price-to-earnings ratio of -0.34, a PEG ratio of 0.47 and a beta of 1.69.

Institutional Trading of iHeartMedia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC acquired a new stake in shares of iHeartMedia in the third quarter worth $112,000. FMR LLC grew its position in iHeartMedia by 25.2% in the 3rd quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after purchasing an additional 4,598 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of iHeartMedia during the 3rd quarter worth about $78,000. Intech Investment Management LLC acquired a new position in shares of iHeartMedia during the third quarter valued at about $45,000. Finally, GSA Capital Partners LLP lifted its stake in shares of iHeartMedia by 19.2% in the third quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock valued at $897,000 after buying an additional 78,177 shares during the period. Institutional investors and hedge funds 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.