Equities analysts expect that Salem Media Group Inc (NASDAQ:SALM) will report earnings of ($0.01) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Salem Media Group’s earnings. Salem Media Group also reported earnings per share of ($0.01) during the same quarter last year. The company is expected to announce its next earnings report on Tuesday, March 10th.
On average, analysts expect that Salem Media Group will report full year earnings of ($0.02) per share for the current financial year. For the next fiscal year, analysts anticipate that the company will report earnings of ($0.14) per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Salem Media Group.
Salem Media Group (NASDAQ:SALM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.74). The firm had revenue of $64.12 million during the quarter, compared to analysts’ expectations of $62.30 million. Salem Media Group had a negative return on equity of 1.79% and a negative net margin of 10.29%.
Several analysts recently issued reports on the company. ValuEngine upgraded Salem Media Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Noble Financial reiterated a “buy” rating and issued a $3.25 price target on shares of Salem Media Group in a report on Wednesday, November 13th. Finally, Zacks Investment Research upgraded Salem Media Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $2.88.
A number of large investors have recently bought and sold shares of SALM. OneAscent Financial Services LLC acquired a new position in Salem Media Group in the second quarter worth about $91,000. Renaissance Technologies LLC grew its stake in Salem Media Group by 19.9% in the second quarter. Renaissance Technologies LLC now owns 192,598 shares of the company’s stock worth $468,000 after purchasing an additional 32,000 shares in the last quarter. Bailard Inc. grew its stake in Salem Media Group by 102.5% in the second quarter. Bailard Inc. now owns 57,309 shares of the company’s stock worth $139,000 after purchasing an additional 29,009 shares in the last quarter. Acadian Asset Management LLC grew its stake in Salem Media Group by 52.9% in the second quarter. Acadian Asset Management LLC now owns 63,327 shares of the company’s stock worth $153,000 after purchasing an additional 21,922 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Salem Media Group by 2.6% in the second quarter. Vanguard Group Inc. now owns 365,676 shares of the company’s stock worth $889,000 after purchasing an additional 9,302 shares in the last quarter. Institutional investors and hedge funds own 18.48% of the company’s stock.
NASDAQ SALM traded down $0.02 during trading hours on Wednesday, hitting $1.46. The company had a trading volume of 13,774 shares, compared to its average volume of 60,639. Salem Media Group has a fifty-two week low of $1.42 and a fifty-two week high of $3.26. The company has a market capitalization of $38.96 million, a price-to-earnings ratio of 16.22 and a beta of 1.64. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.93 and a quick ratio of 0.92. The firm’s 50 day moving average is $1.52 and its 200 day moving average is $1.85.
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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