Separately, analysts at JPMorgan Chase (NYSE: JPM) cut their price target on shares of Airmedia Group from $4.30 to $3.50 in a research note to investors on Tuesday.
Airmedia Group traded down 1.71% on Tuesday, hitting $2.30. Airmedia Group has a 52-week low of $2.10 and a 52-week high of $4.80. The company’s market cap is $144.0 million.
Airmedia Group last posted its quarterly earnings results on Monday, March 12nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. Analysts expect that Airmedia Group will post $0.06 EPS next quarter.
Airmedia Group Inc. is a holding company, which conduct operations through its subsidiaries, consolidated variable interest entities and the variable interest entities’ subsidiaries in the People’s Republic of China.