Barrington Research Forecasts iHeartMedia FY2024 Earnings

iHeartMedia, Inc. (NASDAQ:IHRT) – Equities researchers at Barrington Research issued their FY2024 EPS estimates for iHeartMedia in a research note issued to investors 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 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 raised their price target for the stock from $1.00 to $3.00 in a research note on Tuesday.

iHeartMedia Stock Performance

NASDAQ:IHRT opened at $2.31 on Thursday. The company has a 50-day moving average of $1.87 and a 200-day moving average of $1.54. iHeartMedia has a 52 week low of $0.81 and a 52 week 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 Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Optas LLC acquired a new stake in shares of iHeartMedia during the 2nd quarter worth about $29,000. PFG Investments LLC grew its stake in iHeartMedia by 53.5% during the second quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock worth $36,000 after buying an additional 11,500 shares during the last quarter. FMR LLC increased its holdings in shares of iHeartMedia by 25.2% during the third quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after buying an additional 4,598 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of iHeartMedia in the third quarter valued at approximately $45,000. Finally, Algert Global LLC boosted its holdings in shares of iHeartMedia by 100.1% in the 2nd quarter. Algert Global LLC now owns 50,506 shares of the company’s stock worth $55,000 after acquiring an additional 25,266 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

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.