In a report released today, James Goss from Barrington reiterated a Buy rating on iHeartMedia (IHRT – Research Report), with a price target of $17.00. The company’s shares closed last Thursday at $13.61.
According to TipRanks.com, Goss is a 3-star analyst with an average return of 3.7% and a 47.9% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Entertainment Class A, Clear Channel Outdoor, and Nexstar Media Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for iHeartMedia with a $15.25 average price target.
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.