During the last session, iHeartMedia Inc. (NASDAQ:IHRT)’s traded shares were 0.4 million. At the end of the trading day, the stock’s price was $25.10, reflecting an intraday gain of 0.80% or $0.2. The 52-week high for the IHRT share is $28.24, that puts it down -12.51 from that peak though still a striking 70.48% gain since the share price plummeted to a 52-week low of $7.41. The company’s market capitalization is $3.42B, and the average intraday trading volume over the past 10 days was 0.64 million shares, and the average trade volume was 1.01 million shares over the past three months.
iHeartMedia Inc. (IHRT) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.70. IHRT has a Sell rating from 0 analyst(s) out of 9 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 8 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.09.
iHeartMedia Inc. (NASDAQ:IHRT) trade information
iHeartMedia Inc. (IHRT) registered a 0.80% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.80% in intraday trading to $25.10 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is 1.37%, and it has moved by -5.25% in 30 days. Based on these gigs, the overall price performance for the year is 181.39%. The short interest in iHeartMedia Inc. (NASDAQ:IHRT) is 2.58 million shares and it means that shorts have 2.35 day(s) to cover.
The consensus price target of analysts on Wall Street is $31.56, which implies an increase of 20.47% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $23.00 and $36.00 respectively. As a result, IHRT is trading at a discount of -43.43% off the target high and 8.37% off the low.
iHeartMedia Inc. (IHRT) estimates and forecasts
Statistics show that iHeartMedia Inc. has outperformed its competitors in share price, compared to the industry in which it operates. iHeartMedia Inc. (IHRT) shares have gone up 57.56% during the last six months, with a year-to-date growth rate more than the industry average at 90.55% against 5.30. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 93.30% this quarter and then jump 140.90% in the quarter after that. In the rating firms’ projections, revenue will increase 18.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $861.61 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $910.69 million by the end of Sep 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $487.65 million and $720.72 million respectively. In this case, analysts expect current quarter sales to grow by 76.70% and then jump by 26.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -24.50%. While earnings are projected to return -118.10% in 2021, the next five years will return 7.00% per annum.
iHeartMedia Inc. is due to release its next quarterly earnings between November 08 and November 12. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
iHeartMedia Inc. (NASDAQ:IHRT)’s Major holders
iHeartMedia Inc. insiders own 10.07% of total outstanding shares while institutional holders control 88.44%, with the float percentage being 98.34%. Allianz Asset Management GmbH is the largest shareholder of the company, while 242 institutions own stock in it. As of Mar 30, 2021, the company held over 21.91 million shares (or 38.52% of all shares), a total value of $397.67 million in shares.
The next largest institutional holding, with 7.76 million shares, is of Blackrock Inc.’s that is approximately 13.64% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $140.79 million.
Also, the Mutual Funds coming in first place with the largest holdings of iHeartMedia Inc. (IHRT) shares are PIMCO Income Fd and Franklin Mutual Series Fund-Mutual Global Discovery Fund. Data provided on Dec 30, 2020 indicates that PIMCO Income Fd owns about 2.82 million shares. This amounts to just over 4.95 percent of the company’s overall shares, with a $36.55 million market value. The same data shows that the other fund manager holds slightly less at 2.63 million, or about 4.63% of the stock, which is worth about $34.19 million.