Shares of Entercom Communications Corp. (NYSE:ETM) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.80.
Several analysts recently issued reports on the company. raised their target price on Entercom Communications to $1.34 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. Wolfe Research assumed coverage on shares of Entercom Communications in a report on Friday, December 7th. They issued an “outperform” rating for the company. raised 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. Guggenheim assumed coverage on shares of Entercom Communications in a report on Thursday, November 1st. They issued a “buy” rating and a $8.50 price objective for the company. Finally, ValuEngine lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd.
Shares of NYSE:ETM traded down $0.39 on Wednesday, reaching $6.37. 2,496,020 shares of the company traded hands, compared to its average volume of 919,695. Entercom Communications has a 52 week low of $5.27 and a 52 week high of $10.95. The stock has a market capitalization of $963.44 million, a P/E ratio of 7.58 and a beta of 1.17. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.10.
Entercom Communications (NYSE:ETM) last announced its quarterly earnings data on Friday, February 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). The company had revenue of $411.38 million for the quarter, compared to the consensus estimate of $410.00 million. Entercom Communications had a net margin of 19.89% and a return on equity of 0.14%. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. As a group, research analysts predict that Entercom Communications will post 1.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 5.65%. Entercom Communications’s payout ratio is 42.86%.
In related news, Chairman Joseph M. Field bought 183,332 shares of the business’s stock in a transaction on Thursday, November 29th. The stock was acquired at an average price of $6.50 per share, with a total value of $1,191,658.00. Following the transaction, the chairman now owns 40,990 shares in the company, valued at approximately $266,435. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Joseph M. Field acquired 300,000 shares of the business’s stock in a transaction dated Monday, December 10th. The shares were acquired at an average cost of $6.43 per share, with a total value of $1,929,000.00. Following the transaction, the chairman now owns 40,990 shares in the company, valued at $263,565.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,383,332 shares of company stock valued at $8,782,658. 10.19% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Entercom Communications during the 4th quarter valued at about $29,000. Cutler Group LP grew 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 valued at $74,000 after purchasing an additional 4,468 shares during the last quarter. WealthTrust Axiom LLC bought a new position in Entercom Communications during the 4th quarter valued at about $92,000. Quantamental Technologies LLC bought a new position in Entercom Communications during the 4th quarter valued at about $95,000. Finally, Covington Capital Management bought a new position in Entercom Communications during the 4th quarter valued at about $101,000. 89.75% of the stock is owned by hedge funds and other institutional investors.
Entercom Communications Company Profile
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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