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. “
Several other equities analysts have also recently issued reports on ETM. B. Riley set a $6.00 price objective on Entercom Communications and gave the stock a buy rating in a report on Friday, August 16th. ValuEngine cut Entercom Communications from a sell rating to a strong sell rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $4.79.
ETM opened at $3.53 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.87 and a quick ratio of 1.87. The business has a 50 day simple moving average of $5.03 and a 200-day simple moving average of $5.94. The stock has a market capitalization of $547.20 million, a P/E ratio of 4.20 and a beta of 1.21. Entercom Communications has a 12 month low of $2.94 and a 12 month high of $8.30.
Entercom Communications (NYSE:ETM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.09). The firm had revenue of $380.70 million for the quarter, compared to analyst estimates of $386.57 million. Entercom Communications had a positive return on equity of 7.96% and a negative net margin of 21.69%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. Research analysts anticipate that Entercom Communications will post 0.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be issued a dividend of $0.02 per share. The ex-dividend date is Wednesday, August 28th. This represents a $0.08 annualized dividend and a yield of 2.27%. Entercom Communications’s dividend payout ratio is presently 42.86%.
In related news, Chairman David J. Field purchased 30,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $5.85 per share, with a total value of $175,500.00. Following the completion of the transaction, the chairman now owns 1,863,658 shares of the company’s stock, valued at approximately $10,902,399.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Joseph M. Field purchased 300,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $5.89 per share, with a total value of $1,767,000.00. Following the transaction, the chairman now directly owns 30,125 shares of the company’s stock, valued at approximately $177,436.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,256,202 shares of company stock valued at $7,295,969. 14.04% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in ETM. LSV Asset Management increased its position in Entercom Communications by 142.2% during the first quarter. LSV Asset Management now owns 7,292,900 shares of the company’s stock worth $38,287,000 after buying an additional 4,281,498 shares in the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Entercom Communications in the second quarter valued at $11,974,000. JPMorgan Chase & Co. grew its position in shares of Entercom Communications by 16.8% in the first quarter. JPMorgan Chase & Co. now owns 11,574,387 shares of the company’s stock valued at $60,765,000 after purchasing an additional 1,662,205 shares during the period. Prudential Financial Inc. grew its position in shares of Entercom Communications by 148.2% in the second quarter. Prudential Financial Inc. now owns 1,927,692 shares of the company’s stock valued at $11,180,000 after purchasing an additional 1,151,129 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Entercom Communications by 32.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,399,646 shares of the company’s stock valued at $25,122,000 after purchasing an additional 1,066,215 shares during the period. 78.30% of the stock is owned by institutional investors.
Entercom Communications Company Profile
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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