Entercom Communications Corp. (ETM) Stock Price Up 2.3%
Entercom Communications Corp. (NYSE:ETM) rose 2.3% during mid-day trading on Wednesday . The company traded as high as $14.14 and last traded at $13.90, with a volume of 84,648 shares changing hands. The stock had previously closed at $13.59.
ETM has been the subject of a number of analyst reports. Zacks Investment Research lowered Entercom Communications Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. TheStreet upgraded Entercom Communications Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 28th.
The firm has a 50-day moving average of $13.80 and a 200 day moving average of $12.02. The firm has a market capitalization of $564.37 million and a P/E ratio of 14.96.
Entercom Communications Corp. (NYSE:ETM) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The firm earned $120.50 million during the quarter, compared to analyst estimates of $119.12 million. Entercom Communications Corp.’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. Equities research analysts anticipate that Entercom Communications Corp. will post $0.95 EPS 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 given a $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.30 dividend on an annualized basis and a yield of 2.16%.
In related news, CFO Stephen F. Fisher sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $11.99, for a total value of $239,800.00. Following the completion of the sale, the chief financial officer now owns 541,597 shares in the company, valued at $6,493,748.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
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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