Entercom Communications Corp. (NYSE:ETM) has earned an average broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a 1-year consensus price target of $9.50 for the company and are anticipating that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Entercom Communications an industry rank of 65 out of 255 based on the ratings given to related companies.
Several research analysts have recently weighed in on ETM shares. ValuEngine lowered Entercom Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Noble Financial lowered Entercom Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Zacks Investment Research lowered Entercom Communications from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 10th. Finally, Stephens lowered their price objective on Entercom Communications from $12.00 to $8.00 and set a “hold” rating for the company in a research report on Monday, June 4th.
NYSE:ETM traded up $0.05 during trading hours on Monday, hitting $7.40. 5,730 shares of the company were exchanged, compared to its average volume of 2,183,073. The firm has a market cap of $1.09 billion, a P/E ratio of -16.44 and a beta of 0.93. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.12. Entercom Communications has a one year low of $6.30 and a one year high of $12.43.
Entercom Communications (NYSE:ETM) last announced its earnings results on Wednesday, August 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.40. The business 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%. Entercom Communications’s revenue for the quarter was up 197.7% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. equities research analysts expect that Entercom Communications will post 0.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Thursday, August 23rd. Entercom Communications’s dividend payout ratio (DPR) is presently -80.00%.
In other news, insider Eugene D. Levin sold 85,256 shares of Entercom Communications stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $7.73, for a total value of $659,028.88. Following the completion of the transaction, the insider now directly owns 107,506 shares of the company’s stock, valued at approximately $831,021.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Joseph M. Field acquired 100,000 shares of the stock in a transaction dated Tuesday, May 29th. The stock was acquired at an average cost of $7.19 per share, with a total value of $719,000.00. Following the completion of the transaction, the chairman now owns 6,577,381 shares in the company, valued at approximately $47,291,369.39. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,220,000 shares of company stock valued at $8,833,300. Corporate insiders own 10.19% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Boston Partners bought a new stake in Entercom Communications in the 1st quarter valued at about $21,271,000. Investure LLC bought a new stake in Entercom Communications in the 1st quarter valued at about $14,640,000. Roystone Capital Management LP bought a new stake in Entercom Communications in the 1st quarter valued at about $11,392,000. Dimensional Fund Advisors LP boosted its stake in Entercom Communications by 77.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,418,278 shares of the company’s stock valued at $18,258,000 after purchasing an additional 1,055,928 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in Entercom Communications by 70.5% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,992,390 shares of the company’s stock valued at $15,043,000 after purchasing an additional 823,491 shares during the last quarter. 85.50% of the stock is owned by hedge funds and other institutional investors.
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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