Separately, Zacks Investment Research lowered Entercom Communications Corporation from a hold rating to a strong sell rating in a research note on Wednesday, May 3rd.
Entercom Communications Corporation (NYSE ETM) opened at 10.20 on Thursday. The company has a market capitalization of $415.26 million, a P/E ratio of 18.02 and a beta of 1.29. Entercom Communications Corporation has a 12 month low of $9.60 and a 12 month high of $16.55. The firm has a 50-day moving average price of $10.39 and a 200 day moving average price of $13.62.
Entercom Communications Corporation (NYSE:ETM) last released its quarterly earnings data on Monday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.01. Entercom Communications Corporation had a net margin of 5.27% and a return on equity of 8.79%. The business had revenue of $97.50 million during the quarter, compared to analyst estimates of $97.01 million. During the same period in the previous year, the business earned $0.09 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts expect that Entercom Communications Corporation will post $0.97 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 26th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.94%. Entercom Communications Corporation’s dividend payout ratio (DPR) is currently 53.57%.
In other news, Chairman Joseph M. Field bought 135,832 shares of the stock in a transaction dated Thursday, May 18th. The shares were bought at an average price of $9.73 per share, for a total transaction of $1,321,645.36. Following the completion of the purchase, the chairman now owns 1,006,844 shares in the company, valued at $9,796,592.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph M. Field bought 219,073 shares of the stock in a transaction dated Thursday, May 25th. The shares were purchased at an average price of $10.07 per share, for a total transaction of $2,206,065.11. Following the purchase, the chairman now owns 1,006,844 shares of the company’s stock, valued at approximately $10,138,919.08. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 576,662 shares of company stock worth $5,712,033. 32.57% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its position in Entercom Communications Corporation by 31,901.0% in the first quarter. Bank of Montreal Can now owns 245,768 shares of the company’s stock worth $3,515,000 after buying an additional 245,000 shares during the period. Venator Capital Management Ltd. raised its position in Entercom Communications Corporation by 11.6% in the third quarter. Venator Capital Management Ltd. now owns 2,238,560 shares of the company’s stock worth $28,967,000 after buying an additional 232,486 shares during the period. Dimensional Fund Advisors LP raised its position in Entercom Communications Corporation by 13.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,856,433 shares of the company’s stock worth $26,546,000 after buying an additional 218,213 shares during the period. Renaissance Technologies LLC increased its stake in shares of Entercom Communications Corporation by 566.0% in the fourth quarter. Renaissance Technologies LLC now owns 211,133 shares of the company’s stock worth $3,230,000 after buying an additional 179,433 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Entercom Communications Corporation by 11.9% in the first quarter. Vanguard Group Inc. now owns 1,023,475 shares of the company’s stock worth $14,636,000 after buying an additional 108,488 shares in the last quarter. Hedge funds and other institutional investors own 50.49% of the company’s stock.
Entercom Communications Corporation Company Profile
Entercom Communications Corp. is a radio broadcasting company. The Company sells advertising time to local, regional and national advertisers and national network advertisers, purchasing spot commercials in varying lengths. It focuses on station-related digital platforms, which allow for audience interaction and participation, and integrated local digital marketing solutions and station events.
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