Entercom Communications Corp. (ETM) Hits New 1-Year High at $14.27
Entercom Communications Corp. (NYSE:ETM) shares hit a new 52-week high 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 recently weighed in on ETM. Zacks Investment Research upgraded Entercom Communications Corp. from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a report on Wednesday, May 4th. TheStreet upgraded Entercom Communications Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th.
The company’s 50-day moving average is $13.56 and its 200-day moving average is $11.68. The company has a market cap of $567.11 million and a P/E ratio of 16.91.
Entercom Communications Corp. (NYSE:ETM) last posted its quarterly earnings data on Monday, May 2nd. The company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The firm had revenue of $96.10 million for the quarter, compared to analyst estimates of $93.90 million. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 15th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, August 11th.
In other news, CFO Stephen F. Fisher sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were 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 document filed with the SEC, which is accessible through this link.
An institutional investor recently raised its position in Entercom Communications Corp. stock. Dimensional Fund Advisors LP boosted its stake 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 (SEC). 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 3.29% of Entercom Communications Corp. worth $14,681,000 as of its most recent SEC filing.
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.