iHeartMedia (IHRT) Set to Announce Earnings on Thursday

iHeartMedia (NASDAQ:IHRT) is scheduled to be announcing its earnings results before the market opens on Thursday, August 8th. Analysts expect the company to announce earnings of ($0.31) per share for the quarter. iHeartMedia has set its Q2 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.43. The company had revenue of $799.04 million during the quarter, compared to analysts’ expectations of $806.62 million. During the same quarter in the prior year, the business earned ($1.50) EPS. On average, analysts expect iHeartMedia to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

iHeartMedia Stock Up 14.8 %

Shares of IHRT opened at $1.63 on Wednesday. The company has a 50-day simple moving average of $1.24 and a 200-day simple moving average of $1.80. The company has a market capitalization of $236.02 million, a PE ratio of -0.27, a P/E/G ratio of 0.22 and a beta of 1.71. iHeartMedia has a 52-week low of $0.81 and a 52-week high of $4.59.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IHRT shares. Bank of America cut their price target on shares of iHeartMedia from $1.70 to $1.00 and set an “underperform” rating for the company in a report on Monday, June 3rd. Guggenheim lowered their price objective on shares of iHeartMedia from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Finally, The Goldman Sachs Group lowered their price objective on shares of iHeartMedia from $2.00 to $1.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.00.

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.