Entercom Communications Corp. (ETM) Hits New 12-Month High at $14.27
Shares of Entercom Communications Corp. (NYSE:ETM) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.27 and last traded at $14.09, with a volume of 64,713 shares changing hands. The stock had previously closed at $14.05.
A number of brokerages have weighed in on ETM. Zacks Investment Research raised Entercom Communications Corp. from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, May 4th. TheStreet raised Entercom Communications Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 28th.
The firm has a market cap of $596.34 million and a PE ratio of 17.78. The firm has a 50-day moving average price of $13.63 and a 200 day moving average price of $11.73.
Entercom Communications Corp. (NYSE:ETM) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. During the same period last year, the company posted $0.17 EPS. The firm had revenue of $120.50 million for the quarter, compared to the consensus estimate of $119.12 million. The business’s revenue was up 19.8% compared to the same quarter last year. On average, analysts forecast that Entercom Communications Corp. will post $0.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.03%.
In other news, CFO Stephen F. Fisher sold 20,000 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $11.99, for a total transaction of $239,800.00. Following the transaction, the chief financial officer now owns 541,597 shares of the company’s stock, valued at approximately $6,493,748.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in Entercom Communications Corp. stock. Dimensional Fund Advisors LP increased its position in Entercom Communications Corp. (NYSE:ETM) by 7.0% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 approximately 3.29% of Entercom Communications Corp. worth $14,681,000 at the end of the most recent quarter.
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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