In a report released today, Benjamin Swinburne from Morgan Stanley maintained a Hold rating on iHeartMedia (IHRT), with a price target of $14.00. The company’s shares closed last Monday at $15.01.
According to TipRanks.com, Swinburne is a 4-star analyst with an average return of 10.8% and a 63.0% success rate. Swinburne covers the Services sector, focusing on stocks such as Madison Square Garden Entertainment, Interpublic Group of Companies, and Madison Square Garden Sports.
The word on The Street in general, suggests a Hold analyst consensus rating for iHeartMedia with a $14.67 average price target.
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Based on iHeartMedia’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $744 million and GAAP net loss of $32.11 million. In comparison, last year the company earned revenue of $948 million and had a net profit of $12.37 million.
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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.
