Entercom Communications Corp. (ETM) Sets New 1-Year High at $13.94
Entercom Communications Corp. (NYSE:ETM) shares 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 changing hands. The stock had previously closed at $13.46.
A number of analysts have weighed in on ETM shares. Zacks Investment Research downgraded shares of Entercom Communications Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. TheStreet raised shares of Entercom Communications Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 28th.
The stock has a market capitalization of $563.86 million and a price-to-earnings ratio of 16.82. The firm’s 50 day moving average price is $13.11 and its 200-day moving average price is $11.45.
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 Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company earned $96.10 million during the quarter, compared to the consensus estimate of $93.90 million. The company’s revenue was up 22.5% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. On average, analysts forecast that Entercom Communications Corp. will post $0.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, May 25th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Monday, May 23rd.
In other Entercom Communications Corp. news, CFO Stephen F. Fisher sold 20,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $11.99, for a total value of $239,800.00. Following the sale, the chief financial officer now directly 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 this hyperlink.
An institutional investor recently raised its position in Entercom Communications Corp. stock. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Entercom Communications Corp. (NYSE:ETM) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor 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 as of its most recent filing with the SEC.
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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