Entercom Communications (NYSE:ETM)‘s stock had its “buy” rating reaffirmed by Noble Financial in a research note issued to investors on Friday, March 9th.
ETM has been the subject of a number of other research reports. Zacks Investment Research upgraded Entercom Communications from a “strong sell” rating to a “hold” rating in a report on Thursday, January 18th. ValuEngine downgraded Entercom Communications from a “hold” rating to a “sell” rating in a research report on Saturday, March 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $12.00.
NYSE ETM traded down $0.20 during trading hours on Friday, hitting $9.45. 2,252,304 shares of the company were exchanged, compared to its average volume of 2,406,103. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a market capitalization of $1,302.17, a P/E ratio of -21.00 and a beta of 1.08. Entercom Communications has a 52 week low of $9.25 and a 52 week high of $14.38.
Entercom Communications (NYSE:ETM) last announced its quarterly earnings results on Thursday, March 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). The firm had revenue of $246.61 million during the quarter, compared to analysts’ expectations of $276.82 million. Entercom Communications had a net margin of 39.55% and a return on equity of 0.08%. The firm’s revenue for the quarter was up 98.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. equities research analysts anticipate that Entercom Communications will post 1.33 earnings per share for the current fiscal year.
In related news, Chairman Joseph M. Field purchased 100,000 shares of the business’s stock in a transaction on Friday, March 9th. The shares were bought at an average cost of $9.99 per share, with a total value of $999,000.00. Following the transaction, the chairman now owns 3,971,897 shares of the company’s stock, valued at $39,679,251.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph M. Field purchased 300,000 shares of the business’s stock in a transaction on Friday, March 16th. The shares were bought at an average cost of $9.98 per share, for a total transaction of $2,994,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,540,000 shares of company stock worth $15,058,600. 10.19% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB purchased a new stake in shares of Entercom Communications during the 4th quarter worth about $140,000. Hotchkis & Wiley Capital Management LLC purchased a new position in Entercom Communications in the 3rd quarter valued at about $186,000. Amalgamated Bank purchased a new position in Entercom Communications in the 4th quarter valued at about $185,000. Voya Investment Management LLC lifted its stake in Entercom Communications by 14.0% in the 2nd quarter. Voya Investment Management LLC now owns 19,392 shares of the company’s stock valued at $201,000 after buying an additional 2,383 shares in the last quarter. Finally, AXA lifted its stake in Entercom Communications by 35.6% in the 4th quarter. AXA now owns 19,800 shares of the company’s stock valued at $214,000 after buying an additional 5,200 shares in the last quarter. 84.65% of the stock is currently owned by institutional investors and hedge funds.
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Entercom Communications Company Profile
Entercom Communications Corp. operates as a radio broadcasting company in the United States. The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. As of February 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.
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