Barrington Research Forecasts iHeartMedia FY2024 Earnings

iHeartMedia, Inc. (NASDAQ:IHRT) – Investment analysts at Barrington Research issued their FY2024 earnings per share (EPS) estimates for iHeartMedia in a research report issued to clients and investors on Tuesday, November 12th. Barrington Research analyst P. Sholl anticipates that the company will earn $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 ($2.07) 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 raised shares of iHeartMedia from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $1.00 to $3.00 in a report on Tuesday.

iHeartMedia Price Performance

Shares of NASDAQ:IHRT opened at $2.21 on Thursday. The business’s 50 day moving average price is $1.90 and its 200-day moving average price is $1.55. iHeartMedia has a 1 year low of $0.81 and a 1 year high of $3.12. The firm has a market capitalization of $324.44 million, a price-to-earnings ratio of -0.33, a price-to-earnings-growth ratio of 0.45 and a beta of 1.69.

Insider Activity at iHeartMedia

In other iHeartMedia news, Director James A. Rasulo sold 40,223 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $2.40, for a total value of $96,535.20. Following the completion of the sale, the director now owns 339,322 shares in the company, valued at approximately $814,372.80. This represents a 10.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On iHeartMedia

Large investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in iHeartMedia by 513.4% in the 3rd quarter. Barclays PLC now owns 362,060 shares of the company’s stock valued at $670,000 after buying an additional 303,034 shares in the last quarter. XTX Topco Ltd increased its position in iHeartMedia by 43.3% during the third quarter. XTX Topco Ltd now owns 90,943 shares of the company’s stock worth $168,000 after purchasing an additional 27,486 shares during the last quarter. Quadrature Capital Ltd acquired a new position in iHeartMedia in the 3rd quarter valued at about $56,000. MetLife Investment Management LLC purchased a new stake in shares of iHeartMedia in the 3rd quarter valued at approximately $112,000. Finally, FMR LLC increased its holdings 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 buying an additional 4,598 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other 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.