Equities research analysts expect Salem Media Group Inc (NASDAQ:SALM) to report earnings of $0.01 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Salem Media Group’s earnings. Salem Media Group posted earnings per share of $0.05 during the same quarter last year, which would suggest a negative year-over-year growth rate of 80%. The business is expected to announce its next quarterly earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Salem Media Group will report full-year earnings of $0.13 per share for the current financial year. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Salem Media Group.
Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings results on Friday, May 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $60.47 million during the quarter, compared to analysts’ expectations of $61.12 million. Salem Media Group had a negative net margin of 2.01% and a negative return on equity of 0.93%.
A number of equities research analysts have commented on SALM shares. ValuEngine upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Noble Financial set a $4.00 price target on shares of Salem Media Group and gave the stock a “buy” rating in a report on Monday, May 13th. Zacks Investment Research cut shares of Salem Media Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, TheStreet cut shares of Salem Media Group from a “c-” rating to a “d” rating in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $3.25.
In other news, CFO Evan D. Masyr sold 11,970 shares of Salem Media Group stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.11, for a total transaction of $25,256.70. Following the completion of the transaction, the chief financial officer now directly owns 23,068 shares in the company, valued at $48,673.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 45,881 shares of company stock valued at $104,855 over the last quarter. Corporate insiders own 55.66% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SALM. Renaissance Technologies LLC grew its stake in Salem Media Group by 19.9% during the second quarter. Renaissance Technologies LLC now owns 192,598 shares of the company’s stock valued at $468,000 after acquiring an additional 32,000 shares in the last quarter. Acadian Asset Management LLC grew its stake in Salem Media Group by 52.9% in the 2nd quarter. Acadian Asset Management LLC now owns 63,327 shares of the company’s stock worth $153,000 after buying an additional 21,922 shares in the last quarter. Bailard Inc. grew its stake in Salem Media Group by 102.5% in the 2nd quarter. Bailard Inc. now owns 57,309 shares of the company’s stock worth $139,000 after buying an additional 29,009 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Salem Media Group in the 4th quarter worth approximately $211,000. Finally, Bank of New York Mellon Corp grew its stake in Salem Media Group by 104.5% in the 4th quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock worth $60,000 after buying an additional 14,723 shares in the last quarter. Hedge funds and other institutional investors own 24.72% of the company’s stock.
NASDAQ:SALM traded down $0.17 during trading hours on Monday, reaching $1.83. The company had a trading volume of 142,900 shares, compared to its average volume of 59,811. The company has a current ratio of 0.60, a quick ratio of 0.59 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $54.73 million, a price-to-earnings ratio of 20.33 and a beta of 1.54. The stock has a 50-day moving average price of $2.21. Salem Media Group has a twelve month low of $1.81 and a twelve month high of $4.75.
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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