During the last session, iHeartMedia Inc. (NASDAQ:IHRT)’s traded shares were 0.83 million. At the end of the trading day, the stock’s price was $12.80, reflecting an intraday gain of 6.67% or $0.8. The 52-week high for the IHRT share is $28.24, that puts it down -120.62 from that peak though still a striking 11.09% gain since the share price plummeted to a 52-week low of $11.38. The company’s market capitalization is $2.09B, and the average intraday trading volume over the past 10 days was 1.39 million shares, and the average trade volume was 825.56K shares over the past three months.
iHeartMedia Inc. (IHRT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.70. IHRT has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 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 $0.49.
iHeartMedia Inc. (NASDAQ:IHRT) trade information
iHeartMedia Inc. (IHRT) registered a 6.67% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 6.67% in intraday trading to $12.80 this Friday, 05/13/22, hitting a weekly high. The stock’s 5-day price performance is -8.64%, and it has moved by -32.28% in 30 days. Based on these gigs, the overall price performance for the year is -43.46%. The short interest in iHeartMedia Inc. (NASDAQ:IHRT) is 4.38 million shares and it means that shorts have 3.57 day(s) to cover.
The consensus price target of analysts on Wall Street is $26.63, which implies an increase of 51.93% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $19.00 and $36.00 respectively. As a result, IHRT is trading at a discount of -181.25% off the target high and -48.44% 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 down -43.04% during the last six months, with a year-to-date growth rate more than the industry average at 219.27% against 16.40. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 1,533.30% this quarter and then jump 93.90% in the quarter after that. In the rating firms’ projections, revenue will increase 19.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.04 billion as predicted by 8 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $833.05 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $935.53 million and $706.66 million respectively. In this case, analysts expect current quarter sales to grow by 10.70% and then jump by 17.90% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 21.20%. While earnings are projected to return 96.00% in 2022, the next five years will return 7.00% per annum.
iHeartMedia Inc. is due to release its next quarterly earnings between February 23 and February 28. 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 9.44% of total outstanding shares while institutional holders control 89.14%, with the float percentage being 98.43%. Allianz Asset Management GmbH is the largest shareholder of the company, while 250 institutions own stock in it. As of Sep 29, 2021, the company held over 21.8 million shares (or 38.33% of all shares), a total value of $545.54 million in shares.
The next largest institutional holding, with 10.17 million shares, is of Silver Point Capital, L.P.’s that is approximately 17.88% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $254.48 million.
Also, the Mutual Funds coming in first place with the largest holdings of iHeartMedia Inc. (IHRT) shares are PIMCO Income Fd and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2021 indicates that PIMCO Income Fd owns about 9.03 million shares. This amounts to just over 15.87 percent of the company’s overall shares, with a $225.88 million market value. The same data shows that the other fund manager holds slightly less at 3.05 million, or about 5.36% of the stock, which is worth about $76.31 million.