Brokerages expect Entercom Communications Corporation (NYSE:ETM) to report earnings per share of $0.19 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Entercom Communications Corporation’s earnings. Entercom Communications Corporation reported earnings per share of $0.23 during the same quarter last year, which indicates a negative year-over-year growth rate of 17.4%. The company is expected to issue its next earnings results before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that Entercom Communications Corporation will report full year earnings of $0.70 per share for the current fiscal year. For the next financial year, analysts forecast that the business will post earnings of $1.12 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Entercom Communications Corporation.
Entercom Communications Corporation (NYSE:ETM) last released its earnings results on Monday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.01. The firm had revenue of $97.50 million during the quarter, compared to analyst estimates of $97.01 million. Entercom Communications Corporation had a net margin of 5.27% and a return on equity of 8.79%. Entercom Communications Corporation’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS.
A number of brokerages have recently weighed in on ETM. Zacks Investment Research raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Noble Financial reaffirmed a “buy” rating on shares of Entercom Communications Corporation in a research note on Thursday, May 11th. TheStreet lowered shares of Entercom Communications Corporation from a “b” rating to a “c” rating in a research note on Monday, May 8th. Finally, ValuEngine lowered shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
In other Entercom Communications Corporation news, Chairman Joseph M. Field purchased 4,793 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was bought at an average cost of $9.95 per share, with a total value of $47,690.35. Following the transaction, the chairman now directly owns 1,006,844 shares in the company, valued at approximately $10,018,097.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Joseph M. Field purchased 68,616 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average cost of $9.87 per share, with a total value of $677,239.92. Following the completion of the transaction, the chairman now owns 1,006,844 shares in the company, valued at $9,937,550.28. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 583,087 shares of company stock valued at $5,775,962. 32.57% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Good Life Advisors LLC purchased a new position in shares of Entercom Communications Corporation during the first quarter valued at about $189,000. Bowling Portfolio Management LLC purchased a new position in shares of Entercom Communications Corporation during the first quarter valued at about $193,000. American International Group Inc. boosted its position in shares of Entercom Communications Corporation by 7.1% in the first quarter. American International Group Inc. now owns 15,990 shares of the company’s stock valued at $229,000 after buying an additional 1,065 shares during the period. Verity Asset Management Inc. purchased a new position in shares of Entercom Communications Corporation during the first quarter valued at about $231,000. Finally, Spark Investment Management LLC purchased a new position in shares of Entercom Communications Corporation during the first quarter valued at about $270,000. 50.02% of the stock is owned by institutional investors and hedge funds.
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Shares of Entercom Communications Corporation (NYSE ETM) traded up 0.773% during trading on Monday, hitting $9.775. 216,187 shares of the stock traded hands. The company has a 50 day moving average price of $10.16 and a 200 day moving average price of $13.28. The firm has a market cap of $397.96 million, a price-to-earnings ratio of 17.270 and a beta of 1.18. Entercom Communications Corporation has a 12 month low of $9.55 and a 12 month high of $16.55.
About Entercom Communications Corporation
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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