Entercom Communications Corp. (ETM) Sees Large Volume Increase
Entercom Communications Corp. (NYSE:ETM) saw unusually-strong trading volume on Friday . Approximately 176,630 shares traded hands during mid-day trading, an increase of 107% from the previous session’s volume of 85,295 shares.The stock last traded at $14.65 and had previously closed at $14.65.
Several equities research analysts have recently weighed in on ETM shares. Zacks Investment Research upgraded Entercom Communications Corp. from a “sell” rating to a “hold” rating in a report on Friday. TheStreet upgraded Entercom Communications Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th.
The company has a 50-day moving average of $13.72 and a 200-day moving average of $11.78. The stock has a market cap of $593.09 million and a P/E ratio of 17.69.
Entercom Communications Corp. (NYSE:ETM) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The firm earned $120.50 million during the quarter, compared to analyst estimates of $119.12 million. The company’s quarterly revenue was up 19.8% on a year-over-year basis. Analysts predict that Entercom Communications Corp. will post $0.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend 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 value of $239,800.00. Following the sale, the chief financial officer now directly owns 541,597 shares in the company, valued at approximately $6,493,748.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A hedge fund recently raised its stake in Entercom Communications Corp. stock. Dimensional Fund Advisors LP increased its stake in Entercom Communications Corp. (NYSE:ETM) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 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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