Analysts Expect iHeartMedia, Inc. (NASDAQ:IHRT) Will Post Earnings of $0.14 Per Share

Brokerages expect iHeartMedia, Inc. (NASDAQ:IHRTGet Rating) to announce $0.14 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for iHeartMedia’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.35. iHeartMedia reported earnings per share of ($0.22) in the same quarter last year, which would suggest a positive year-over-year growth rate of 163.6%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that iHeartMedia will report full-year earnings of $1.30 per share for the current year, with EPS estimates ranging from $1.00 to $1.61. For the next fiscal year, analysts anticipate that the business will report earnings of $1.69 per share, with EPS estimates ranging from $0.95 to $2.28. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow iHeartMedia.

IHRT has been the subject of several research analyst reports. B. Riley reduced their price target on shares of iHeartMedia from $40.00 to $36.00 in a report on Friday, May 6th. Zacks Investment Research upgraded shares of iHeartMedia from a “strong sell” rating to a “hold” rating in a research note on Friday, May 13th. Finally, JPMorgan Chase & Co. lowered shares of iHeartMedia from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $28.00 to $19.00 in a report on Monday, May 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, iHeartMedia presently has a consensus rating of “Buy” and a consensus price target of $28.17.

Shares of NASDAQ IHRT traded down $0.17 during trading on Tuesday, reaching $11.19. The company had a trading volume of 45,048 shares, compared to its average volume of 1,072,244. iHeartMedia has a 52 week low of $9.97 and a 52 week high of $28.24. The stock has a market cap of $1.59 billion, a PE ratio of 48.65, a PEG ratio of 1.27 and a beta of 1.76. The business’s 50 day moving average price is $15.46 and its 200-day moving average price is $18.47.

In related news, CEO Robert W. Pittman acquired 40,745 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was acquired at an average price of $12.71 per share, with a total value of $517,868.95. Following the acquisition, the chief executive officer now directly owns 1,394,523 shares of the company’s stock, valued at $17,724,387.33. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Media & Entertainment I. Global bought 17,342 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The shares were acquired at an average price of $15.58 per share, for a total transaction of $270,188.36. Following the completion of the transaction, the insider now directly owns 14,349,342 shares in the company, valued at approximately $223,562,748.36. The disclosure for this purchase can be found here. In the last three months, insiders have bought 4,294,855 shares of company stock valued at $64,481,598. Insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Penn Capital Management Company LLC purchased a new stake in iHeartMedia in the 1st quarter worth about $7,075,000. Global Media & Entertainment Investments Ltd increased its position in shares of iHeartMedia by 6.6% during the first quarter. Global Media & Entertainment Investments Ltd now owns 10,262,305 shares of the company’s stock worth $194,265,000 after acquiring an additional 630,976 shares during the period. Goldman Sachs Group Inc. increased its position in shares of iHeartMedia by 3.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,906,295 shares of the company’s stock worth $73,946,000 after acquiring an additional 118,163 shares during the period. JAT Capital Mgmt LP boosted its stake in shares of iHeartMedia by 69.1% during the first quarter. JAT Capital Mgmt LP now owns 1,624,845 shares of the company’s stock valued at $30,758,000 after purchasing an additional 663,922 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of iHeartMedia by 4.4% during the first quarter. State Street Corp now owns 2,293,313 shares of the company’s stock valued at $43,412,000 after purchasing an additional 97,650 shares in the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.

iHeartMedia Company Profile (Get Rating)

iHeartMedia, Inc operates as a media and entertainment company worldwide. 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 live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.

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