Entercom Communications Corporation (NYSE:ETM)‘s stock had its “buy” rating restated by equities researchers at Noble Financial in a report issued on Monday, July 31st.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. ValuEngine lowered shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet lowered shares of Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.
Entercom Communications Corporation (NYSE ETM) opened at 9.85 on Monday. The company’s 50-day moving average is $9.89 and its 200 day moving average is $12.01. The stock has a market cap of $401.48 million, a PE ratio of 22.09 and a beta of 1.17. Entercom Communications Corporation has a 52 week low of $9.45 and a 52 week high of $16.55.
Entercom Communications Corporation (NYSE:ETM) last released its earnings results on Friday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The company had revenue of $125 million during the quarter, compared to analyst estimates of $121.42 million. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.50%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. On average, analysts expect that Entercom Communications Corporation will post $0.91 earnings per share for the current fiscal year.
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In related news, Chairman Joseph M. Field acquired 4,793 shares of the business’s stock in a transaction on Friday, June 16th. The stock was acquired at an average cost of $9.95 per share, with a total value of $47,690.35. Following the acquisition, 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 SEC, which is available at this link. Also, Chairman Joseph M. Field bought 219,073 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was acquired at an average cost of $10.07 per share, with a total value of $2,206,065.11. Following the completion of the acquisition, 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. Over the last ninety days, insiders have acquired 378,639 shares of company stock valued at $3,777,077. Insiders own 32.57% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in Entercom Communications Corporation by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 4,399,135 shares of the company’s stock worth $45,531,000 after buying an additional 287,581 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. Northern Trust Corp raised its position in Entercom Communications Corporation by 35.5% in the second quarter. Northern Trust Corp now owns 1,465,228 shares of the company’s stock worth $15,165,000 after buying an additional 383,788 shares during the period. Vanguard Group Inc. raised its position in Entercom Communications Corporation by 4.6% in the second quarter. Vanguard Group Inc. now owns 1,070,924 shares of the company’s stock worth $11,083,000 after buying an additional 47,449 shares during the period. Finally, State Street Corp raised its position in Entercom Communications Corporation by 2.3% in the second quarter. State Street Corp now owns 472,546 shares of the company’s stock worth $4,887,000 after buying an additional 10,702 shares during the period. 49.50% of the stock is owned by hedge funds and other institutional investors.
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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