Entercom Communications (ETM) Lowered to Hold at ValuEngine

ValuEngine lowered shares of Entercom Communications (NYSE:ETM) from a buy rating to a hold rating in a report released on Friday.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Entercom Communications from a hold rating to a buy rating and set a $12.00 price objective on the stock in a research report on Monday, January 29th. Noble Financial restated a buy rating on shares of Entercom Communications in a research report on Monday, November 27th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $12.00.

Entercom Communications (NYSE ETM) opened at $10.55 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.21 and a quick ratio of 2.21. The firm has a market cap of $452.09, a P/E ratio of 40.58, a P/E/G ratio of 4.91 and a beta of 0.99. Entercom Communications has a 52-week low of $9.45 and a 52-week high of $16.30.

Entercom Communications (NYSE:ETM) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The company had revenue of $122.30 million for the quarter, compared to analysts’ expectations of $120.76 million. Entercom Communications had a net margin of 2.69% and a return on equity of 8.67%. Entercom Communications’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. analysts anticipate that Entercom Communications will post 0.93 EPS for the current year.

Entercom Communications declared that its board has authorized a stock buyback program on Thursday, November 2nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 22.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other Entercom Communications news, Chairman Joseph M. Field purchased 50,000 shares of Entercom Communications stock in a transaction on Friday, November 24th. The shares were acquired at an average cost of $11.79 per share, for a total transaction of $589,500.00. Following the completion of the transaction, the chairman now directly owns 3,762,621 shares of the company’s stock, valued at $44,361,301.59. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider David J. Field purchased 25,000 shares of Entercom Communications stock in a transaction on Friday, November 17th. The shares were acquired at an average price of $11.60 per share, for a total transaction of $290,000.00. Following the completion of the transaction, the insider now directly owns 1,823,072 shares of the company’s stock, valued at $21,147,635.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 423,444 shares of company stock worth $4,978,398. 32.57% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its position in Entercom Communications by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 109,658 shares of the company’s stock valued at $1,135,000 after acquiring an additional 627 shares during the last quarter. Rhumbline Advisers grew its position in Entercom Communications by 3.1% during the second quarter. Rhumbline Advisers now owns 34,558 shares of the company’s stock valued at $358,000 after acquiring an additional 1,047 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Entercom Communications by 7.9% during the second quarter. Parametric Portfolio Associates LLC now owns 27,395 shares of the company’s stock valued at $284,000 after acquiring an additional 2,017 shares during the last quarter. Voya Investment Management LLC grew its position in Entercom Communications by 14.0% during the second quarter. Voya Investment Management LLC now owns 19,392 shares of the company’s stock valued at $201,000 after acquiring an additional 2,383 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Entercom Communications by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 24,943 shares of the company’s stock valued at $258,000 after acquiring an additional 2,484 shares during the last quarter. Institutional investors and hedge funds own 69.57% of the company’s stock.

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Entercom Communications 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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