Entercom Communications Corp. (ETM) Hits New 1-Year High at $13.94
Entercom Communications Corp. (NYSE:ETM) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.94 and last traded at $13.89, with a volume of 110,686 shares. The stock had previously closed at $13.46.
ETM has been the subject of several recent analyst reports. Zacks Investment Research downgraded Entercom Communications Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th. TheStreet upgraded Entercom Communications Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 28th.
The firm has a 50-day moving average of $13.11 and a 200-day moving average of $11.45. The firm has a market capitalization of $563.86 million and a price-to-earnings ratio of 16.82.
Entercom Communications Corp. (NYSE:ETM) last released its earnings results on Monday, May 2nd. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. During the same period last year, the firm earned $0.04 EPS. The firm had revenue of $96.10 million for the quarter, compared to analyst estimates of $93.90 million. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Analysts anticipate that Entercom Communications Corp. will post $0.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, May 25th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, May 23rd.
In related news, CFO Stephen F. Fisher sold 20,000 shares of Entercom Communications Corp. stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $11.99, for a total transaction of $239,800.00. Following the completion of the sale, the chief financial officer now owns 541,597 shares of the company’s stock, valued at $6,493,748.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
An institutional investor recently raised its position in Entercom Communications Corp. stock. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Entercom Communications Corp. (NYSE:ETM) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 204,359 shares of the company’s stock after buying an additional 7,750 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.51% of Entercom Communications Corp. worth $2,294,000 at the end of the most recent reporting period.
Entercom Communications Corp. is a radio broadcasting company. The Company has a portfolio of approximately 130 radio stations in over 30 markets across the United States. The Company operates through the radio broadcasting segment. The Company sells advertising time to local, regional and national advertisers and national network advertisers, engaged in purchasing spot commercials in varying lengths.
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