Research analysts at B. Riley initiated coverage on shares of Entercom Communications (NYSE:ETM) in a note issued to investors on Thursday, Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $7.75 price target on the stock. B. Riley’s price objective would indicate a potential upside of 24.80% from the stock’s current price.
Several other equities analysts have also commented on ETM. ValuEngine lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. upped their price objective on shares of Entercom Communications to $1.34 and gave the stock a “buy” rating in a report on Wednesday, February 13th. upped their price objective on shares of Entercom Communications to $1.34 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Finally, TheStreet lowered shares of Entercom Communications from a “c” rating to a “d+” rating in a report on Friday, March 29th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $5.95.
Shares of ETM stock opened at $6.21 on Thursday. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 1.40. Entercom Communications has a one year low of $5.16 and a one year high of $10.95. The company has a market capitalization of $889.67 million, a PE ratio of 7.39 and a beta of 1.07.
Entercom Communications (NYSE:ETM) last issued its quarterly earnings data on Friday, February 22nd. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). Entercom Communications had a positive return on equity of 4.40% and a negative net margin of 24.71%. The company had revenue of $411.38 million during the quarter, compared to analyst estimates of $410.00 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The business’s revenue was up 66.8% compared to the same quarter last year.
In other Entercom Communications news, Chairman Joseph M. Field bought 200,000 shares of Entercom Communications stock in a transaction on Friday, March 22nd. The shares were bought at an average cost of $5.55 per share, for a total transaction of $1,110,000.00. Following the acquisition, the chairman now directly owns 26,378 shares in the company, valued at $146,397.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph M. Field bought 30,000 shares of Entercom Communications stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $5.25 per share, for a total transaction of $157,500.00. Following the completion of the acquisition, the chairman now owns 26,378 shares in the company, valued at $138,484.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 830,000 shares of company stock worth $4,980,500. 14.04% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ETM. Acadian Asset Management LLC acquired a new stake in Entercom Communications during the 4th quarter worth approximately $29,000. Cutler Group LP lifted its holdings in Entercom Communications by 51.6% during the 4th quarter. Cutler Group LP now owns 13,127 shares of the company’s stock worth $74,000 after buying an additional 4,468 shares in the last quarter. WealthTrust Axiom LLC acquired a new stake in Entercom Communications during the 4th quarter worth approximately $92,000. Quantamental Technologies LLC acquired a new stake in Entercom Communications during the 4th quarter worth approximately $95,000. Finally, Covington Capital Management acquired a new stake in Entercom Communications during the 4th quarter worth approximately $101,000. Institutional investors own 83.75% of the company’s stock.
Entercom Communications Company Profile
Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 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 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.
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