As of Friday close, iHeartMedia Inc.’s (NASDAQ:IHRT) stock was down -$0.13, moving down -3.75 percent to $3.34. The average number of shares traded per day over the past five days has been 1,350,280 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.04 fall in that time frame. In the last twenty days, the average volume was 987,890, while in the previous 50 days, it was 1,226,600.
Since last month, IHRT stock retreated -25.11%. Shares of the company fell to $3.27 on 08/14/23, the lowest level in the past month. A 52-week high of $10.85 was reached on 02/02/23 after having rallying from a 52-week low of $2.21. Since the beginning of this year, IHRT’s stock price has dropped by -45.51% or -$2.79, and marked a new high 12 times. However, the stock has declined by -69.22% since its 52-week high.
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IHRT stock investors should be aware that iHeartMedia Inc. (IHRT) stock had its last reported insider trading activity 8 days ago on Aug 11. PITTMAN ROBERT W, the Chairman and CEO of the company, purchased of 58,480 shares for $3.44 on Aug 11. It resulted in a $201,066 investment by the insider. PITTMAN ROBERT W added 88,028 shares at an average price of $2.88 on May 05. The insider now owns 1,971,323 shares following the transaction. On May 05, Hamilton Scott D bought 2,000 shares at $2.86 apiece. The transaction was valued at $5,718.
Valuation Metrics
The stock’s beta is 1.85. Besides these, the trailing price-to-sales (P/S) ratio of 0.13, the price-to-book (PB) ratio of 1.07, and the price-to-cash flow ratio of 1.87 may also be considered.
Financial Health
In the three months ended June 29, iHeartMedia Inc.’s quick ratio stood at 1.90, while its current ratio was 1.90, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 11.66, and the total debt-to-equity ratio was 11.66. On the profitability front, the trailing twelve-month gross margin is 61.50% percent. In the year ended June 29, EBITDA margin amounted to 23.38%, whereas operating margins totaled 2.20%. Based on annual data, IHRT earned $2.43 billion in gross profit and brought in $3.91 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 1.40%. Return on equity (ROE) for the past 12 months was -40.60%.
In iHeartMedia Inc.’s quarter-end financial report for June 29, it reported total debt of $5.32 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. IHRT’s revenue fell -3.7% to $811.24 million during the quarter, while net income inched up to $920.01 million. While analysts expected iHeartMedia Inc. to report -$0.19 quarterly earnings, the actual figure was -$5.93 per share, beating the consensus estimate by -3,021.10%. During the quarter, the company generated -$787.45 million in EBITDA. The liabilities of iHeartMedia Inc. were 7.39 billion at the end of its most recent quarter ended June 29, and its total debt was $6.15 billion. The value of shareholders’ equity is $144.52 million.
Technical Picture
This quick technical analysis looks at iHeartMedia Inc.’s (IHRT) price momentum. With a historical volatility rate of 91.26%, the RSI 9-day stood at 33.76% on 18 August.
With respect to its five-day moving average, the current iHeartMedia Inc. price is down by -1.18% percent or -$0.04. At present, IHRT shares trade -24.09% below its 20-day simple moving average and -22.14% percent below its 100-day simple moving average. However, the stock is currently trading approximately -11.64% below its SMA50 and -59.66% below its SMA200.
Stochastic coefficient K was 7.06% and Stochastic coefficient D was 6.81%, while ATR was 0.30. Given the Stochastic reading of 4.86% for the 14-day period, the RSI (14) reading has been calculated as 37.82%. As of today, the MACD Oscillator reading stands at -0.07, while the 14-day reading stands at -0.42.
Analyst Ratings
iHeartMedia Inc. downgraded its rating on iHeartMedia Inc. (NASDAQ: IHRT) to an Underperform in a note to investors on March 28, 2023. The analysts firm previously had a Neutral rating on the stock.iHeartMedia Inc. (IHRT) has been rated Hold by analysts. According to 2 brokerage firms, IHRT is a sell, and 3 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate iHeartMedia Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $4.55, the current consensus forecast for the stock is $3.00 – $12.00. Based on these forecasts, analysts predict iHeartMedia Inc. (IHRT) will achieve an average price target of $6.10.
