iHeartMedia (NASDAQ:IHRT – Get Free Report) posted its earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.43, Zacks reports. The business had revenue of $799.04 million for the quarter, compared to analysts’ expectations of $806.62 million. iHeartMedia had a negative net margin of 29.40% and a negative return on equity of 1,197.12%. During the same period in the prior year, the company posted ($1.50) EPS. iHeartMedia updated its Q2 2024 guidance to EPS.
iHeartMedia Price Performance
NASDAQ IHRT traded down $0.08 during trading on Friday, hitting $1.30. 1,508,661 shares of the company’s stock traded hands, compared to its average volume of 891,979. The firm has a market cap of $188.18 million, a P/E ratio of -0.18 and a beta of 1.84. The stock has a fifty day moving average of $2.09 and a two-hundred day moving average of $2.35. iHeartMedia has a 12-month low of $1.29 and a 12-month high of $4.74.
Analyst Ratings Changes
Separately, Guggenheim dropped their price objective on iHeartMedia from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, iHeartMedia presently has a consensus rating of “Hold” and an average price target of $3.98.
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.
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