Barrington Thinks iHeartMedia’s Stock is Going to Recover


Barrington analyst James Goss reiterated a Buy rating on iHeartMedia (IHRT) today and set a price target of $12.00. The company’s shares closed last Thursday at $6.47, close to its 52-week low of $4.31.

According to TipRanks.com, Goss is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -5.2% and a 41.5% success rate. Goss covers the Services sector, focusing on stocks such as Clear Channel Outdoor, Nexstar Media Group, and Lions Gate Ent Cl A.

iHeartMedia has an analyst consensus of Moderate Buy, with a price target consensus of $11.50.

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Based on iHeartMedia’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $781 million and GAAP net loss of $1.69 billion. In comparison, last year the company earned revenue of $796 million and had a GAAP net loss of $114 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IHRT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

iHeartMedia, Inc. engages in the provision of media and entertainment services. It operates through the following segments: Audio; Audio and Media Services; and Corporate and Other Reconciling Items. The Audio segment comprises of media and entertainment services via broadcast and digital delivery and also includes events and national syndication businesses. The Audio and Media Services segment consists of the other audio and media services, including the media representation business (Katz Media) and the provider of scheduling and broadcast software (RCS).The company was founded by L. Lowry Mays and B. J. McCombs in 1972 and is headquartered in San Antonio, TX.

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