Entercom Communications (NYSE:ETM) Chairman Joseph M. Field acquired 300,000 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were purchased at an average price of $9.98 per share, with a total value of $2,994,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE ETM opened at $9.70 on Friday. The firm has a market cap of $1,308.92, a P/E ratio of 37.31 and a beta of 1.09. Entercom Communications has a 12-month low of $9.25 and a 12-month high of $14.05. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.02 and a current ratio of 2.02.
Entercom Communications (NYSE:ETM) last issued its earnings results on Thursday, March 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.12). The company had revenue of $246.61 million for the quarter, compared to the consensus estimate of $276.82 million. Entercom Communications had a return on equity of 0.08% and a net margin of 39.55%. The firm’s revenue was up 98.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. equities research analysts predict that Entercom Communications will post 1.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.71%. The ex-dividend date was Tuesday, March 13th. Entercom Communications’s dividend payout ratio is presently -80.00%.
Several institutional investors have recently added to or reduced their stakes in ETM. Vanguard Group Inc. lifted its stake in shares of Entercom Communications by 4.6% in the second quarter. Vanguard Group Inc. now owns 1,070,924 shares of the company’s stock valued at $11,083,000 after buying an additional 47,449 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Entercom Communications by 7.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,395 shares of the company’s stock valued at $284,000 after buying an additional 2,017 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Entercom Communications by 14.0% in the second quarter. Voya Investment Management LLC now owns 19,392 shares of the company’s stock valued at $201,000 after buying an additional 2,383 shares in the last quarter. State Street Corp lifted its stake in shares of Entercom Communications by 2.3% in the second quarter. State Street Corp now owns 472,546 shares of the company’s stock valued at $4,887,000 after buying an additional 10,702 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Entercom Communications by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 24,943 shares of the company’s stock valued at $258,000 after buying an additional 2,484 shares in the last quarter. 84.65% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Entercom Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 18th. ValuEngine cut shares of Entercom Communications from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Noble Financial reissued a “buy” rating on shares of Entercom Communications in a research note on Friday, March 9th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Entercom Communications presently has an average rating of “Hold” and a consensus price target of $12.00.
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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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