Wall Street analysts’ outlook for Audacy Inc. (AUD)

Audacy Inc. (NYSE: AUD) stock jumped 8.09% on Monday to $0.31 against a previous-day closing price of $0.28. With 0.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.99 million shares. During the session, the Broadcasting company that operates in wider Communication Services sector, reached to the highest price of $0.3098 whereas the lowest price it dropped to was $0.2800. The 52-week range on AUD shows that it touched its highest point at $3.36 and its lowest point at $0.20 during that stretch. Beta for the stock currently stands at 1.43.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AUD was down-trending over the past week, with a drop of -1.82%, but this was up by 35.55% over a month. Three-month performance dropped to -14.99% while six-month performance fell -54.26%. The stock lost -86.34% in the past year, while it has gained 36.52% so far this year. A look at the trailing 12-month EPS for AUD yields -0.94 with Next year EPS estimates of -0.03. For the next quarter, that number is 0.07. This implies an EPS growth rate of 98.50% for this year and 98.10% for next year.

Float and Shares Shorts:

At present, 139.36 million AUD shares are outstanding with a float of 117.72 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.69 million, which was 5.29% higher than short shares on Sep 14, 2022. In addition to Mr. David J. Field as the firm’s Chairman, CEO & Pres, Mr. Richard J. Schmaeling serves as its Exec. VP of Strategic Initiatives & CFO.


Institutional Ownership:

Through their ownership of 64.95% of AUD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 27.16% of AUD, in contrast to 20.36% held by mutual funds. Shares owned by individuals account for 18.08%. As the largest shareholder in AUD with 5.23% of the stake, BlackRock Fund Advisors holds 7,378,040 shares worth 7,378,040. A second-largest stockholder of AUD, Hein Park Capital Management LP, holds 5,659,987 shares, controlling over 4.01% of the firm’s shares. Invesco Asset Management Ltd. is the third largest shareholder in AUD, holding 5,521,500 shares or 3.92% stake. With a 5.34% stake in AUD, the Contrarius ICAV – Global Equity F is the largest stakeholder. A total of 7,523,897 shares are owned by the mutual fund manager. The Invesco Funds – Global Consumer T, which owns about 3.92% of AUD stock, is the second-largest Mutual Fund holder. It holds 5,521,500 shares valued at 1.24 million. Schwab Fundamental US Small Compa holds 2.40% of the stake in AUD, owning 3,385,475 shares worth 0.76 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AUD since 4 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AUD analysts setting a high price target of $1.00 and a low target of $0.00, the average target price over the next 12 months is $0.44.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AUD will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of -$1.02 being high and -$1.08 being low. For AUD, this leads to a yearly average estimate of -$1.06. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Audacy Inc. surprised analysts by -$0.05 when it reported -$0.07 EPS against a consensus estimate of -$0.02. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is $0.16 and the low estimate is $0.02. The average estimate for the next quarter is thus $0.07.

Summary of Insider Activity:

Insiders traded AUD stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 100,004 shares were bought while 9,055 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 2,163,233 while 228,701 shares were sold.

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