Entercom Communications (ETM) Shares Gap Up to $7.37

Entercom Communications Corp. (NYSE:ETM)’s share price gapped up prior to trading on Friday . The stock had previously closed at $7.95, but opened at $7.37. Entercom Communications shares last traded at $7.56, with a volume of 55833 shares trading hands.

Several equities analysts recently weighed in on the company. ValuEngine raised Entercom Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Zacks Investment Research raised Entercom Communications from a “strong sell” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Tuesday, July 10th. Finally, Guggenheim assumed coverage on Entercom Communications in a research note on Thursday. They issued a “buy” rating and a $8.50 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.42.

The company has a market cap of $1.08 billion, a price-to-earnings ratio of -16.89 and a beta of 0.97. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.13 and a quick ratio of 2.13.

Entercom Communications (NYSE:ETM) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.40. Entercom Communications had a negative return on equity of 1.62% and a net margin of 21.63%. The firm had revenue of $372.10 million during the quarter, compared to the consensus estimate of $379.40 million. During the same period last year, the business posted $0.15 EPS. Entercom Communications’s quarterly revenue was up 197.7% on a year-over-year basis.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NJ State Employees Deferred Compensation Plan grew its holdings in Entercom Communications by 25.0% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 50,000 shares of the company’s stock valued at $378,000 after buying an additional 10,000 shares during the last quarter. Suntrust Banks Inc. grew its holdings in Entercom Communications by 32.1% during the 1st quarter. Suntrust Banks Inc. now owns 42,373 shares of the company’s stock valued at $407,000 after buying an additional 10,301 shares during the last quarter. MetLife Investment Advisors LLC grew its holdings in Entercom Communications by 21.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 59,780 shares of the company’s stock valued at $451,000 after buying an additional 10,507 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in Entercom Communications by 82.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 23,700 shares of the company’s stock valued at $229,000 after buying an additional 10,700 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Entercom Communications by 0.4% during the 2nd quarter. Northern Trust Corp now owns 2,612,570 shares of the company’s stock valued at $19,725,000 after buying an additional 11,478 shares during the last quarter. 85.64% of the stock is owned by hedge funds and other institutional investors.

About Entercom Communications (NYSE:ETM)

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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