iHeartMedia Inc [NASDAQ: IHRT] surged by $0.5 during the normal trading session on while it closed the day at $2.77. The company report on February 29, 2024 at 8:00 AM that iHeartMedia, Inc. Reports Results for 2023 Fourth Quarter and Full Year.
iHeartMedia, Inc. (Nasdaq: IHRT) today reported financial results for the quarter and year ended December 31, 2023.
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iHeartMedia Inc stock has also gained 16.63% of its value over the past 7 days. However, IHRT stock has inclined by 7.36% in the 3 months of the year. Over the past six months meanwhile, it has lost -21.75% and gained 3.75% year-on date.
The market cap for IHRT stock reached $400.71 million, with 121.77 million shares outstanding and 114.59 million shares in the current float. Compared to the average trading volume of 953.72K shares, IHRT reached a trading volume of 4137945 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about iHeartMedia Inc [IHRT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IHRT shares is $3.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IHRT stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for iHeartMedia Inc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on March 28, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $10 to $5. The new note on the price target was released on March 01, 2023, representing the official price target for iHeartMedia Inc stock. On August 10, 2022, analysts decreased their price target for IHRT shares from 15 to 9.
The Average True Range (ATR) for iHeartMedia Inc is set at 0.24, with the Price to Sales ratio for IHRT stock in the period of the last 12 months amounting to 0.11. Price to Free Cash Flow for IHRT in the course of the last twelve months was 3.00 with Quick ratio for the last quarter at 1.82.
IHRT stock trade performance evaluation
iHeartMedia Inc [IHRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.63. With this latest performance, IHRT shares dropped by -3.82% in over the last four-week period, additionally sinking by -21.75% over the last 6 months – not to mention a drop of -61.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IHRT stock in for the last two-week period is set at 57.67, with the RSI for the last a single of trading hit 62.37, and the three-weeks RSI is set at 55.31 for iHeartMedia Inc [IHRT]. The present Moving Average for the last 50 days of trading for this stock 2.49, while it was recorded at 2.40 for the last single week of trading, and 3.01 for the last 200 days.
iHeartMedia Inc [IHRT]: An insightful look at the core fundamentals
iHeartMedia Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.82 and a Current Ratio set at 1.82.
Earnings per share (EPS) analysis for iHeartMedia Inc [IHRT] stock
With the latest financial reports released by the company, iHeartMedia Inc posted 0.53/share EPS, while the average EPS was predicted by analysts to be reported at 0.44/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 20.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IHRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for iHeartMedia Inc go to 7.00%.
iHeartMedia Inc [IHRT]: Institutional Ownership
The top three institutional holders of IHRT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IHRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IHRT stock with ownership which is approximately 5.8325%.
