Shares of Entercom Communications (NYSE:ETM) have received an average broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company.
Brokers have set a 12-month consensus target price of $13.00 for the company and are forecasting that the company will post $0.07 earnings per share for the current quarter, according to Zacks. Zacks has also given Entercom Communications an industry rank of 110 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently weighed in on ETM. ValuEngine upgraded Entercom Communications from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded Entercom Communications from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Noble Financial restated a “buy” rating on shares of Entercom Communications in a research note on Friday, March 9th.
In related news, Chairman Joseph M. Field purchased 100,000 shares of the stock in a transaction that occurred on Thursday, March 22nd. The shares were bought at an average price of $9.54 per share, with a total value of $954,000.00. Following the acquisition, the chairman now owns 4,971,897 shares of the company’s stock, valued at approximately $47,431,897.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Joseph M. Field purchased 200,000 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was bought at an average cost of $9.95 per share, for a total transaction of $1,990,000.00. Following the acquisition, the chairman now directly owns 3,971,897 shares in the company, valued at approximately $39,520,375.15. The disclosure for this purchase can be found here. Insiders purchased a total of 1,540,000 shares of company stock worth $15,058,600 in the last ninety days. 32.57% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of ETM. BlackRock Inc. raised its holdings in shares of Entercom Communications by 377.7% in the 4th quarter. BlackRock Inc. now owns 8,319,966 shares of the company’s stock worth $89,856,000 after purchasing an additional 6,578,244 shares during the period. Aristeia Capital LLC raised its holdings in shares of Entercom Communications by 1,472.8% in the 4th quarter. Aristeia Capital LLC now owns 3,909,026 shares of the company’s stock worth $42,217,000 after purchasing an additional 3,660,480 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Entercom Communications by 443.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,732,400 shares of the company’s stock worth $29,510,000 after purchasing an additional 2,229,800 shares during the period. Goldentree Asset Management LP bought a new stake in shares of Entercom Communications in the 4th quarter worth approximately $15,851,000. Finally, Gruss Capital Management LP raised its holdings in Entercom Communications by 661.7% during the 3rd quarter. Gruss Capital Management LP now owns 1,409,235 shares of the company’s stock valued at $16,136,000 after acquiring an additional 1,224,235 shares during the period. 84.65% of the stock is currently owned by institutional investors.
Shares of NYSE ETM traded up $0.05 during midday trading on Friday, reaching $9.70. The company’s stock had a trading volume of 1,397,054 shares, compared to its average volume of 1,883,369. Entercom Communications has a 12-month low of $9.25 and a 12-month high of $14.05. The company has a market capitalization of $1,308.92, a PE ratio of -21.56 and a beta of 1.09. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.05.
Entercom Communications (NYSE:ETM) last announced its earnings results on Thursday, March 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Entercom Communications had a return on equity of 0.08% and a net margin of 39.55%. The business had revenue of $246.61 million during the quarter, compared to analysts’ expectations of $276.82 million. During the same quarter in the previous year, the firm earned $0.34 EPS. Entercom Communications’s quarterly revenue was up 98.0% on a year-over-year basis. research analysts expect that Entercom Communications will post 1.33 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 14th were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.71%. Entercom Communications’s payout ratio is presently -80.00%.
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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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