According to Zacks, “Entercom Communications is the fourth largest radio broadcasting company in the United States. The company has built a highly consolidated portfolio of radio stations concentrated primarily in top 50 markets with above average growth characteristics. The company’s portfolio of radio stations is geographically diverse and offers a wide variety of programming formats. The company believes that geographic diversity will reduce the effect of economic downturn, while wide range of programming formats lessens the impact of changes in listening preferences. “
A number of other research analysts also recently commented on ETM. Wells Fargo & Co began coverage on shares of Entercom Communications in a research report on Monday, September 23rd. They issued a market perform rating and a $4.00 target price on the stock. ValuEngine raised shares of Entercom Communications from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Finally, B. Riley set a $6.00 target price on shares of Entercom Communications and gave the company a buy rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Entercom Communications currently has an average rating of Buy and an average price target of $4.66.
Entercom Communications stock opened at $3.29 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.46. The company’s 50 day moving average is $3.46 and its two-hundred day moving average is $5.13. The firm has a market cap of $467.40 million, a PE ratio of 3.95 and a beta of 1.32. Entercom Communications has a 52-week low of $2.94 and a 52-week high of $8.04.
Entercom Communications (NYSE:ETM) last posted its earnings results on Wednesday, August 7th. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.09). The company had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $386.57 million. Entercom Communications had a negative net margin of 21.69% and a positive return on equity of 7.96%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. On average, equities research analysts anticipate that Entercom Communications will post 0.81 earnings per share for the current fiscal year.
In related news, insider Richard J. Schmaeling acquired 55,676 shares of Entercom Communications stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $3.61 per share, for a total transaction of $200,990.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 69,726 shares of company stock valued at $248,613 in the last quarter. Company insiders own 14.04% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Factorial Partners LLC raised its position in Entercom Communications by 9.7% during the second quarter. Factorial Partners LLC now owns 34,000 shares of the company’s stock worth $197,000 after acquiring an additional 3,000 shares during the last quarter. Swiss National Bank grew its holdings in shares of Entercom Communications by 1.5% during the second quarter. Swiss National Bank now owns 230,644 shares of the company’s stock worth $1,338,000 after buying an additional 3,500 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Entercom Communications by 0.9% during the first quarter. First Trust Advisors LP now owns 389,561 shares of the company’s stock worth $2,045,000 after buying an additional 3,618 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Entercom Communications by 0.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 716,008 shares of the company’s stock worth $4,153,000 after buying an additional 4,565 shares in the last quarter. Finally, Evercore Wealth Management LLC grew its holdings in shares of Entercom Communications by 20.4% during the second quarter. Evercore Wealth Management LLC now owns 29,500 shares of the company’s stock worth $171,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company’s stock.
About Entercom Communications
Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 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 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.
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