Entravision Communications (NYSE:EVC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Entravision Communications (NYSE:EVC) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $7.75 price target on the stock.

According to Zacks, “Entravision is a diversified media company utilizing a combination of television, radio, outdoor and publishing operations to reach Hispanic consumers in the United States. The company is the largest Univision-affiliated television group in the United States. It owns Univision-affiliated stations in 17 of the top 50 Hispanic markets in the United States. Also, the company operates the largest centrally programmed Spanish-language radio network. The company produces seven formats to appeal to the diverse musical tastes of the listeners. “

Several other brokerages also recently issued reports on EVC. TheStreet raised Entravision Communications from a c rating to a b- rating in a report on Friday, August 6th. Noble Financial reaffirmed a buy rating and set a $10.00 price target on shares of Entravision Communications in a report on Wednesday, September 1st.

Shares of EVC opened at $7.42 on Wednesday. The stock has a market capitalization of $633.38 million, a P/E ratio of 14.84 and a beta of 0.70. Entravision Communications has a twelve month low of $1.28 and a twelve month high of $8.11. The company has a 50 day moving average of $6.80 and a 200-day moving average of $5.42. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.73.

Entravision Communications (NYSE:EVC) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $178.41 million during the quarter, compared to analysts’ expectations of $163.10 million. Entravision Communications had a net margin of 7.59% and a return on equity of 15.56%. On average, sell-side analysts anticipate that Entravision Communications will post 0.41 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, September 14th. Entravision Communications’s dividend payout ratio (DPR) is presently 23.26%.

In other Entravision Communications news, Director Paul A. Zevnik sold 68,938 shares of Entravision Communications stock in a transaction dated Monday, June 28th. The stock was sold at an average price of $6.46, for a total value of $445,339.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Liberman A. Jeffery sold 6,956 shares of Entravision Communications stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $6.77, for a total value of $47,092.12. The disclosure for this sale can be found here. 24.30% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in EVC. Optimum Investment Advisors bought a new stake in shares of Entravision Communications during the second quarter worth about $33,000. Advisor Group Holdings Inc. grew its holdings in shares of Entravision Communications by 43.5% during the second quarter. Advisor Group Holdings Inc. now owns 6,606 shares of the company’s stock worth $44,000 after purchasing an additional 2,002 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Entravision Communications in the first quarter worth approximately $53,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Entravision Communications in the first quarter worth approximately $60,000. Finally, Wolverine Trading LLC acquired a new position in shares of Entravision Communications in the second quarter worth approximately $70,000. Institutional investors own 54.37% of the company’s stock.

Entravision Communications Company Profile

Entravision Communications Corp. engages in the provision of media and marketing solutions, and data analytics services. It operates through the following segments: Television Broadcasting, Radio Broadcasting, and Digital Media. The Television Broadcasting segment offers an entertainment, news, and national news magazine, as well as local news produced by its TV stations.

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