Entercom Communications Corp. (NYSE:ETM) – Investment analysts at B. Riley cut their FY2020 earnings per share estimates for shares of Entercom Communications in a report issued on Wednesday, March 18th. B. Riley analyst Z. Silver now forecasts that the company will post earnings of $0.88 per share for the year, down from their prior estimate of $1.09. B. Riley has a “Buy” rating and a $4.50 price objective on the stock.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Entercom Communications from a “buy” rating to a “hold” rating in a report on Tuesday, December 31st. ValuEngine cut Entercom Communications from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.17.
Shares of Entercom Communications stock opened at $1.74 on Monday. The stock has a market cap of $245.49 million, a price-to-earnings ratio of -0.55 and a beta of 1.47. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.02 and a current ratio of 2.02. The stock has a 50 day moving average price of $3.62 and a 200-day moving average price of $4.01. Entercom Communications has a one year low of $1.50 and a one year high of $7.12.
Entercom Communications (NYSE:ETM) last announced its earnings results on Tuesday, February 25th. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.09. The firm had revenue of $414.12 million during the quarter, compared to analysts’ expectations of $409.76 million. Entercom Communications had a positive return on equity of 9.90% and a negative net margin of 28.20%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Thursday, March 12th. Entercom Communications’s payout ratio is currently 8.00%.
In other news, Chairman Joseph M. Field bought 50,000 shares of the stock in a transaction on Tuesday, March 17th. The stock was acquired at an average cost of $1.67 per share, for a total transaction of $83,500.00. Following the acquisition, the chairman now owns 22,211 shares of the company’s stock, valued at $37,092.37. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Joseph M. Field bought 27,983 shares of the stock in a transaction on Monday, March 2nd. The stock was purchased at an average price of $3.53 per share, with a total value of $98,779.99. In the last 90 days, insiders have purchased 364,581 shares of company stock valued at $1,024,293. 14.04% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the business. Boston Partners lifted its holdings in shares of Entercom Communications by 45.5% in the 4th quarter. Boston Partners now owns 3,341,057 shares of the company’s stock worth $15,492,000 after buying an additional 1,045,262 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Entercom Communications by 26.1% in the 4th quarter. Nuveen Asset Management LLC now owns 1,083,443 shares of the company’s stock worth $5,027,000 after buying an additional 224,029 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Entercom Communications by 63.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 602,425 shares of the company’s stock worth $2,795,000 after buying an additional 233,206 shares during the period. First Trust Advisors LP lifted its holdings in shares of Entercom Communications by 547.9% in the 3rd quarter. First Trust Advisors LP now owns 519,359 shares of the company’s stock worth $1,735,000 after buying an additional 439,202 shares during the period. Finally, Mcclain Value Management LLC purchased a new stake in shares of Entercom Communications in the 4th quarter worth $2,243,000. Institutional investors and hedge funds own 69.48% of the company’s stock.
Entercom Communications Company Profile
Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 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 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.
