Brokerages Anticipate Salem Media Group Inc (SALM) to Post $0.07 EPS

Shares of Salem Media Group Inc (NASDAQ:SALM) have been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating. Salem Media Group’s rating score has declined by 200% in the last three months as a result of a number of analysts’ ratings changes.

Zacks has also given Salem Media Group an industry rank of 52 out of 257 based on the ratings given to its competitors.

Several research analysts have recently issued reports on the stock. Noble Financial downgraded shares of Salem Media Group from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of Salem Media Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Finally, TheStreet downgraded shares of Salem Media Group from a “c” rating to a “d+” rating in a research note on Tuesday, August 21st.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SALM. Millennium Management LLC purchased a new position in shares of Salem Media Group during the second quarter valued at approximately $1,234,000. Ancora Advisors LLC raised its holdings in shares of Salem Media Group by 205.1% during the third quarter. Ancora Advisors LLC now owns 262,351 shares of the company’s stock valued at $892,000 after purchasing an additional 176,374 shares during the last quarter. Bailard Inc. purchased a new position in shares of Salem Media Group during the second quarter valued at approximately $484,000. Shell Asset Management Co. purchased a new position in shares of Salem Media Group during the third quarter valued at approximately $235,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Salem Media Group by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,281,706 shares of the company’s stock valued at $4,358,000 after purchasing an additional 57,252 shares during the last quarter. 29.01% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ SALM traded down $0.05 during midday trading on Friday, hitting $2.83. The stock had a trading volume of 21,288 shares, compared to its average volume of 42,902. The company has a market cap of $74.10 million, a PE ratio of 12.86 and a beta of 1.20. Salem Media Group has a 52 week low of $2.79 and a 52 week high of $6.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.88 and a current ratio of 0.89.

Salem Media Group (NASDAQ:SALM) last issued its earnings results on Wednesday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $65.53 million for the quarter, compared to the consensus estimate of $65.85 million. Salem Media Group had a net margin of 8.46% and a return on equity of 2.42%. On average, analysts forecast that Salem Media Group will post 0.2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.26 annualized dividend and a dividend yield of 9.19%. Salem Media Group’s payout ratio is 118.18%.

Salem Media Group Company Profile

Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

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