Entercom Communications Corporation (NYSE:ETM) declared that its Board of Directors has authorized a stock repurchase plan, which authorizes the company to buyback $100.00 million in shares on Thursday, November 2nd, EventVestor reports. This buyback authorization authorizes the company to purchase up to 22.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Entercom Communications Corporation (ETM) opened at $10.70 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $436.12, a P/E ratio of 13.21, a P/E/G ratio of 11.63 and a beta of 1.09. Entercom Communications Corporation has a 12-month low of $9.45 and a 12-month high of $16.55.
Entercom Communications Corporation (NYSE:ETM) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $122.30 million during the quarter, compared to analysts’ expectations of $120.76 million. Entercom Communications Corporation had a return on equity of 8.64% and a net margin of 2.69%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. equities analysts predict that Entercom Communications Corporation will post 0.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Monday, November 27th. Entercom Communications Corporation’s dividend payout ratio (DPR) is presently 115.38%.
Several research analysts recently weighed in on the company. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a research report on Monday, July 31st. BidaskClub upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th.
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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