Entercom Communications Corp. (ETM) Shares Up 2%
Shares of Entercom Communications Corp. (NYSE:ETM) shot up 2% on Monday . The company traded as high as $14.12 and last traded at $13.99, with a volume of 54,254 shares traded. The stock had previously closed at $13.71.
A number of brokerages have recently weighed in on ETM. Zacks Investment Research downgraded shares of Entercom Communications Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 15th. TheStreet upgraded shares of Entercom Communications Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 28th.
The company has a market capitalization of $570.36 million and a price-to-earnings ratio of 17.01. The stock has a 50-day moving average price of $13.56 and a 200-day moving average price of $11.68.
Entercom Communications Corp. (NYSE:ETM) last issued its quarterly earnings results on Monday, May 2nd. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The business earned $96.10 million during the quarter, compared to analyst estimates of $93.90 million. During the same period in the prior year, the business posted $0.04 EPS. Entercom Communications Corp.’s revenue was up 22.5% compared to the same quarter last year. On average, equities analysts anticipate that Entercom Communications Corp. will post $0.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, August 11th.
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.
A hedge fund recently raised its stake in Entercom Communications Corp. stock. Dimensional Fund Advisors LP boosted its position in Entercom Communications Corp. (NYSE:ETM) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,307,288 shares of the company’s stock after buying an additional 85,627 shares during the period. Dimensional Fund Advisors LP owned about 3.29% of Entercom Communications Corp. worth $14,681,000 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.