Analysts predict that Entercom Communications Corp. (NYSE:ETM) will announce $386.93 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Entercom Communications’ earnings. The highest sales estimate is $391.85 million and the lowest is $382.00 million. Entercom Communications posted sales of $122.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 216.4%. The firm is scheduled to announce its next earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Entercom Communications will report full year sales of $1.47 billion for the current fiscal year, with estimates ranging from $1.45 billion to $1.49 billion. For the next financial year, analysts expect that the firm will report sales of $1.50 billion per share. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Entercom Communications.
Entercom Communications (NYSE:ETM) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.40. The firm had revenue of $372.10 million during the quarter, compared to analyst estimates of $379.40 million. Entercom Communications had a negative return on equity of 1.62% and a net margin of 21.63%. The business’s quarterly revenue was up 197.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share.
ETM has been the subject of a number of analyst reports. ValuEngine lowered Entercom Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Noble Financial lowered Entercom Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Zacks Investment Research lowered Entercom Communications from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 10th. Finally, Stephens dropped their price objective on Entercom Communications from $12.00 to $8.00 and set a “hold” rating for the company in a research note on Monday, June 4th.
Shares of NYSE:ETM traded down $0.10 during trading on Tuesday, reaching $7.35. 1,089,914 shares of the company traded hands, compared to its average volume of 2,183,073. The firm has a market cap of $1.09 billion, a PE ratio of -16.33 and a beta of 0.93. Entercom Communications has a 52-week low of $6.30 and a 52-week high of $12.43. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.13 and a current ratio of 2.13.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 24th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, August 23rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.90%. Entercom Communications’s dividend payout ratio is presently -80.00%.
In other Entercom Communications news, Chairman Joseph M. Field bought 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The stock was bought at an average price of $6.92 per share, for a total transaction of $2,768,000.00. Following the completion of the acquisition, the chairman now directly owns 3,538,937 shares in the company, valued at $24,489,444.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph M. Field bought 370,000 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The shares were acquired at an average price of $7.79 per share, with a total value of $2,882,300.00. Following the acquisition, the chairman now owns 3,538,937 shares of the company’s stock, valued at $27,568,319.23. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,220,000 shares of company stock valued at $8,833,300. 10.19% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in ETM. Wells Fargo & Company MN raised its holdings in shares of Entercom Communications by 89.7% during the fourth quarter. Wells Fargo & Company MN now owns 152,966 shares of the company’s stock valued at $1,652,000 after acquiring an additional 72,351 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Entercom Communications by 222.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 344,112 shares of the company’s stock valued at $3,716,000 after acquiring an additional 237,260 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Entercom Communications by 93.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 39,302 shares of the company’s stock valued at $424,000 after acquiring an additional 18,984 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Entercom Communications during the fourth quarter valued at approximately $647,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Entercom Communications during the fourth quarter valued at approximately $140,000. Institutional investors own 85.50% of the company’s stock.
About Entercom Communications
Entercom Communications Corp. operates as a radio broadcasting company in the United States. The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. As of February 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.
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