Barrington Research Forecasts iHeartMedia FY2024 Earnings

iHeartMedia, Inc. (NASDAQ:IHRT) – Barrington Research issued their FY2024 earnings per share (EPS) estimates for shares of iHeartMedia in a research note issued to investors on Tuesday, November 12th. Barrington Research analyst P. Sholl forecasts 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 lifted their target price for the company from $1.00 to $3.00 in a research report on Tuesday.

iHeartMedia Price Performance

IHRT opened at $2.29 on Thursday. iHeartMedia has a fifty-two week low of $0.81 and a fifty-two week high of $3.12. The company has a market capitalization of $336.19 million, a P/E ratio of -0.34, a P/E/G ratio of 0.47 and a beta of 1.69. The firm’s fifty day moving average price is $1.87 and its two-hundred day moving average price is $1.54.

Institutional Trading of iHeartMedia

A number of large investors have recently bought and sold shares of the stock. MetLife Investment Management LLC bought a new position in shares of iHeartMedia during the third quarter valued at $112,000. FMR LLC increased its position in shares of iHeartMedia by 25.2% during 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 in the last quarter. The Manufacturers Life Insurance Company bought a new position in iHeartMedia during the 3rd quarter valued at about $78,000. Intech Investment Management LLC acquired a new position in iHeartMedia in the third quarter valued at about $45,000. Finally, GSA Capital Partners LLP grew its stake in iHeartMedia by 19.2% during the third quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock worth $897,000 after buying an additional 78,177 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

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.