Home Hedge Funds Q3 2022 Earnings Estimate for iHeartMedia, Inc. Issued By Barrington Research (NASDAQ:IHRT)

Q3 2022 Earnings Estimate for iHeartMedia, Inc. Issued By Barrington Research (NASDAQ:IHRT)

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iHeartMedia, Inc. (NASDAQ:IHRTGet Rating) – Equities researchers at Barrington Research decreased their Q3 2022 EPS estimates for iHeartMedia in a report released on Wednesday, July 20th. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $0.31 per share for the quarter, down from their prior estimate of $0.43. The consensus estimate for iHeartMedia’s current full-year earnings is $0.84 per share. Barrington Research also issued estimates for iHeartMedia’s Q1 2023 earnings at ($0.23) EPS, Q2 2023 earnings at $0.22 EPS, Q3 2023 earnings at $0.25 EPS and FY2024 earnings at $1.80 EPS.

Other analysts have also issued reports about the stock. Bank of America lowered shares of iHeartMedia from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $30.00 to $10.00 in a research note on Friday, June 24th. B. Riley lowered their price objective on shares of iHeartMedia from $40.00 to $36.00 in a research note on Friday, May 6th. Wells Fargo & Company lowered shares of iHeartMedia from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $23.00 to $9.00 in a research note on Friday, July 8th. Morgan Stanley lowered shares of iHeartMedia from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $25.00 to $11.00 in a research note on Friday, June 10th. Finally, The Goldman Sachs Group lowered their price objective on shares of iHeartMedia from $32.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, iHeartMedia presently has an average rating of “Hold” and an average target price of $16.67.

iHeartMedia Stock Down 2.1 %

Shares of IHRT opened at $7.75 on Monday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 33.70, a P/E/G ratio of 1.32 and a beta of 1.91. iHeartMedia has a 12-month low of $6.43 and a 12-month high of $27.62. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 6.58. The firm has a fifty day moving average price of $9.28 and a 200-day moving average price of $15.54.

iHeartMedia (NASDAQ:IHRTGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.10). The company had revenue of $843.46 million for the quarter, compared to analysts’ expectations of $839.26 million. iHeartMedia had a net margin of 0.92% and a return on equity of 5.40%.

Insiders Place Their Bets

In other news, Director James A. Rasulo bought 40,223 shares of iHeartMedia stock in a transaction on Thursday, May 12th. The stock was acquired at an average cost of $11.95 per share, for a total transaction of $480,664.85. Following the completion of the acquisition, the director now owns 87,591 shares of the company’s stock, valued at approximately $1,046,712.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director James A. Rasulo bought 40,223 shares of iHeartMedia stock in a transaction on Thursday, May 12th. The stock was acquired at an average cost of $11.95 per share, for a total transaction of $480,664.85. Following the completion of the acquisition, the director now owns 87,591 shares of the company’s stock, valued at approximately $1,046,712.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Media & Entertainment I. Global bought 152,262 shares of iHeartMedia stock in a transaction on Monday, May 2nd. The stock was purchased at an average price of $16.47 per share, with a total value of $2,507,755.14. Following the completion of the acquisition, the insider now directly owns 15,242,573 shares of the company’s stock, valued at approximately $251,045,177.31. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,221,422 shares of company stock worth $44,962,726. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On iHeartMedia

Several hedge funds have recently modified their holdings of IHRT. Counterpoint Mutual Funds LLC increased its holdings in shares of iHeartMedia by 63.7% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 1,341 shares of the company’s stock valued at $28,000 after acquiring an additional 522 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in iHeartMedia in the 4th quarter valued at $1,373,000. AEGON USA Investment Management LLC lifted its holdings in iHeartMedia by 110.4% in the 4th quarter. AEGON USA Investment Management LLC now owns 21,658 shares of the company’s stock valued at $456,000 after purchasing an additional 11,362 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in iHeartMedia by 8.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 126,287 shares of the company’s stock valued at $2,657,000 after purchasing an additional 9,842 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in iHeartMedia in the 4th quarter valued at $243,000. Institutional investors and hedge funds own 80.20% of the company’s stock.

About iHeartMedia

(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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Earnings History and Estimates for iHeartMedia (NASDAQ:IHRT)



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