iHeartMedia (NASDAQ:IHRT) PT Lowered to $1.00

iHeartMedia (NASDAQ:IHRT) had its price target decreased by analysts at The Goldman Sachs Group from $2.00 to $1.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 18.03% from the stock’s current price.

Separately, Guggenheim decreased their price objective on shares of iHeartMedia from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, iHeartMedia has an average rating of “Hold” and a consensus target price of $3.78.

iHeartMedia Stock Down 6.2 %

NASDAQ IHRT traded down $0.08 on Monday, hitting $1.22. The stock had a trading volume of 783,601 shares, compared to its average volume of 890,216. The company’s 50-day moving average is $2.07 and its two-hundred day moving average is $2.34. The stock has a market cap of $176.60 million, a price-to-earnings ratio of -0.21 and a beta of 1.84. iHeartMedia has a one year low of $1.20 and a one year high of $4.74.

iHeartMedia (NASDAQ:IHRT) last announced its earnings results on Thursday, May 9th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.43. The firm had revenue of $799.04 million for the quarter, compared to the consensus estimate of $806.62 million. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 24.04%. During the same quarter in the previous year, the business earned ($1.50) EPS. On average, sell-side analysts anticipate that iHeartMedia will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On iHeartMedia

A number of large investors have recently made changes to their positions in IHRT. Vanguard Group Inc. boosted its position in shares of iHeartMedia by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock worth $13,754,000 after buying an additional 203,917 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of iHeartMedia by 169.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock worth $84,000 after purchasing an additional 25,001 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in iHeartMedia during the first quarter valued at approximately $181,000. PFG Investments LLC acquired a new position in iHeartMedia in the 1st quarter valued at approximately $45,000. Finally, Douglas Lane & Associates LLC lifted its position in iHeartMedia by 4.4% in the 1st quarter. Douglas Lane & Associates LLC now owns 8,098,512 shares of the company’s stock worth $16,926,000 after buying an additional 342,901 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.