Equities research analysts forecast that iHeartMedia, Inc. (NASDAQ:IHRT) will post sales of $886.48 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for iHeartMedia’s earnings. The highest sales estimate is $890.60 million and the lowest is $882.36 million. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, February 25th.
According to Zacks, analysts expect that iHeartMedia will report full-year sales of $2.90 billion for the current financial year, with estimates ranging from $2.89 billion to $2.90 billion. For the next year, analysts forecast that the company will post sales of $3.29 billion, with estimates ranging from $3.26 billion to $3.31 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover iHeartMedia.
IHRT has been the subject of several research reports. Morgan Stanley lifted their price target on iHeartMedia from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, November 18th. Zacks Investment Research cut shares of iHeartMedia from a “buy” rating to a “hold” rating in a report on Thursday, February 4th. B. Riley reiterated a “buy” rating and issued a $17.00 price objective on shares of iHeartMedia in a research note on Wednesday, February 3rd. Bank of America cut iHeartMedia from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $12.00 to $10.00 in a research report on Friday, December 18th. Finally, Wells Fargo & Company raised their target price on iHeartMedia from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, January 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. iHeartMedia currently has an average rating of “Hold” and an average price target of $13.00.
In other news, CEO Robert W. Pittman acquired 20,000 shares of the stock in a transaction dated Thursday, November 19th. The shares were acquired at an average cost of $10.15 per share, for a total transaction of $203,000.00. Following the completion of the transaction, the chief executive officer now owns 558,381 shares in the company, valued at approximately $5,667,567.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.90% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Planned Solutions Inc. bought a new stake in iHeartMedia in the fourth quarter valued at about $25,000. Steward Partners Investment Advisory LLC bought a new stake in shares of iHeartMedia in the 4th quarter valued at approximately $40,000. Public Employees Retirement System of Ohio raised its holdings in shares of iHeartMedia by 54.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 7,221 shares of the company’s stock worth $59,000 after buying an additional 2,541 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of iHeartMedia by 94.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,637 shares of the company’s stock worth $99,000 after buying an additional 3,714 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of iHeartMedia by 12,394.1% during the 4th quarter. Barclays PLC now owns 8,496 shares of the company’s stock worth $110,000 after buying an additional 8,428 shares during the period.
iHeartMedia stock traded up $0.10 during mid-day trading on Monday, hitting $14.90. The company’s stock had a trading volume of 68,919 shares, compared to its average volume of 1,075,559. The firm’s 50 day moving average is $13.80 and its 200 day moving average is $12.41. iHeartMedia has a 52-week low of $4.31 and a 52-week high of $18.31.
iHeartMedia, Inc operates as a media and entertainment company worldwide. It operates through two segments, Audio, and Audio and 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 6,200 radio station affiliates.
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