Entercom Communications (NYSE:ETM) Chairman Joseph M. Field acquired 415,125 shares of the stock in a transaction that occurred on Monday, April 16th. The shares were bought at an average price of $9.65 per share, with a total value of $4,005,956.25. Following the completion of the transaction, the chairman now owns 6,071,022 shares in the company, valued at $58,585,362.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
NYSE ETM opened at $10.25 on Wednesday. Entercom Communications has a 52-week low of $9.25 and a 52-week high of $13.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a market cap of $1,302.17, a P/E ratio of -22.78 and a beta of 1.08.
Entercom Communications (NYSE:ETM) last posted its quarterly earnings data on Thursday, March 8th. The company reported $0.16 earnings per share (EPS) 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 company had revenue of $246.61 million for the quarter, compared to analysts’ expectations of $276.82 million. During the same quarter last year, the business posted $0.34 EPS. The business’s quarterly revenue was up 98.0% on a year-over-year basis. equities research analysts anticipate that Entercom Communications will post 1.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 3.51%. Entercom Communications’s dividend payout ratio is presently -80.00%.
A number of equities research analysts have recently commented on the stock. ValuEngine lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Entercom Communications from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday, January 29th. Finally, Noble Financial restated a “buy” rating on shares of Entercom Communications in a report on Friday, March 9th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $12.00.
Large investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB bought a new position in Entercom Communications during the fourth quarter worth about $140,000. Amalgamated Bank bought a new position in Entercom Communications during the fourth quarter worth about $185,000. AXA boosted its position in Entercom Communications by 35.6% during the fourth quarter. AXA now owns 19,800 shares of the company’s stock worth $214,000 after purchasing an additional 5,200 shares during the period. Ellington Management Group LLC bought a new position in Entercom Communications during the fourth quarter worth about $222,000. Finally, Clear Harbor Asset Management LLC boosted its position in Entercom Communications by 46.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 22,707 shares of the company’s stock worth $245,000 after purchasing an additional 7,174 shares during the period. Hedge funds and other institutional investors own 84.65% of the company’s stock.
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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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