Entravision Communication (NYSE:EVC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.
According to Zacks, “Entravision is a diversified media company utilizing a combination of television, radio, outdoor and publishing operations to reach Hispanic consumers in the United States. The company is the largest Univision-affiliated television group in the United States. It owns Univision-affiliated stations in 17 of the top 50 Hispanic markets in the United States. Also, the company operates the largest centrally programmed Spanish-language radio network. The company produces seven formats to appeal to the diverse musical tastes of the listeners. “
A number of other brokerages have also commented on EVC. Noble Financial set a $6.00 price target on shares of Entravision Communication and gave the stock a “buy” rating in a report on Wednesday, August 7th. ValuEngine upgraded shares of Entravision Communication from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.
Shares of NYSE:EVC traded up $0.08 during mid-day trading on Monday, reaching $2.64. 219,300 shares of the company’s stock were exchanged, compared to its average volume of 330,289. The firm has a market capitalization of $222.61 million, a price-to-earnings ratio of 20.31 and a beta of 1.22. The business’s fifty day moving average price is $3.00 and its 200-day moving average price is $3.04. The company has a debt-to-equity ratio of 0.92, a quick ratio of 4.13 and a current ratio of 4.13. Entravision Communication has a twelve month low of $2.41 and a twelve month high of $5.42.
Entravision Communication (NYSE:EVC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $69.24 million for the quarter. Entravision Communication had a negative net margin of 1.97% and a positive return on equity of 4.59%. Analysts predict that Entravision Communication will post 0.25 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Dupont Capital Management Corp lifted its holdings in Entravision Communication by 38.2% in the second quarter. Dupont Capital Management Corp now owns 128,494 shares of the company’s stock valued at $401,000 after buying an additional 35,522 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Entravision Communication in the second quarter valued at $200,000. Jane Street Group LLC acquired a new position in Entravision Communication in the second quarter valued at $52,000. Acadian Asset Management LLC lifted its holdings in Entravision Communication by 6.3% in the second quarter. Acadian Asset Management LLC now owns 737,307 shares of the company’s stock valued at $2,302,000 after buying an additional 43,571 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in Entravision Communication in the second quarter valued at $685,000. Institutional investors and hedge funds own 58.31% of the company’s stock.
Entravision Communication Company Profile
Entravision Communications Corporation operates as a media company that reaches and engages Hispanics across media channels and advertising platforms primarily in the United States, Spain, Mexico, Argentina, and other Latin America countries. The company operates through three segments: Television Broadcasting, Radio Broadcasting, and Digital Media.
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