Entercom Communications Corp. (ETM) Sees Strong Trading Volume
Entercom Communications Corp. (NYSE:ETM) saw unusually-high trading volume on Friday . Approximately 176,630 shares were traded 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.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Entercom Communications Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 12th. TheStreet raised Entercom Communications Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th.
The firm has a market capitalization of $593.09 million and a P/E ratio of 15.73. The company’s 50 day moving average price is $13.72 and its 200-day moving average price is $11.78.
Entercom Communications Corp. (NYSE:ETM) last announced its earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The business earned $120.50 million during the quarter, compared to analyst estimates of $119.12 million. During the same period in the previous year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts expect that Entercom Communications Corp. will post $0.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend 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 the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $11.99, for a total transaction of $239,800.00. Following the sale, the chief financial officer now directly owns 541,597 shares of the company’s stock, valued at approximately $6,493,748.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
An institutional investor recently raised its position in Entercom Communications Corp. stock. Dimensional Fund Advisors LP boosted its stake in shares of Entercom Communications Corp. (NYSE:ETM) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 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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