Salem Media Group, Inc. (SALM) Stock Rating Lowered by Zacks Investment Research

Salem Media Group, Inc. (NASDAQ:SALM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “Salem Media Group, Inc. is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. Its operating segment consists of Broadcast, Digital Media and Publishing. Broadcasting segment is engaged in the ownership and operation of radio stations in metropolitan markets. Digital Media segment focuses on Web-based platform designed. Publishing segment consists of Regnery Publishing, Xulon Press and Salem Publishing. Salem Media Group, Inc., formerly known as Salem Communications Corporation, is headquartered in Camarillo, California. “

SALM has been the topic of several other research reports. ValuEngine upgraded shares of Salem Media Group from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Noble Financial restated a “buy” rating on shares of Salem Media Group in a report on Tuesday, August 8th.

Shares of Salem Media Group (NASDAQ SALM) opened at 6.50 on Thursday. The firm has a market capitalization of $169.77 million, a PE ratio of 22.49 and a beta of 1.20. Salem Media Group has a 52 week low of $5.00 and a 52 week high of $8.25. The stock has a 50 day moving average price of $6.28 and a 200 day moving average price of $6.95.

Salem Media Group (NASDAQ:SALM) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. Salem Media Group had a net margin of 2.75% and a return on equity of 6.26%. The company had revenue of $66.11 million during the quarter, compared to analysts’ expectations of $67.47 million. Equities analysts forecast that Salem Media Group will post $0.25 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This story was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2017/10/05/salem-media-group-inc-salm-stock-rating-lowered-by-zacks-investment-research.html.

Several large investors have recently bought and sold shares of SALM. Bank of New York Mellon Corp lifted its holdings in shares of Salem Media Group by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 218,211 shares of the company’s stock valued at $1,625,000 after acquiring an additional 8,955 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Salem Media Group by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,049,571 shares of the company’s stock valued at $7,819,000 after acquiring an additional 10,771 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Salem Media Group by 72.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,207 shares of the company’s stock valued at $344,000 after acquiring an additional 19,373 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Salem Media Group by 11.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock valued at $330,000 after acquiring an additional 4,767 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Salem Media Group during the 2nd quarter valued at $1,815,000. Institutional investors and hedge funds own 30.51% of the company’s stock.

Salem Media Group Company Profile

Salem Media Group, Inc, formerly Salem Communications Corporation, is a multi-media company specializing in Christian and Conservative content, with media properties consisting of radio broadcasting, digital media, and book, magazine and newsletter publishing. The Company operates through three segments: Broadcast, Digital Media and Publishing.

Receive News & Ratings for Salem Media Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply