Share Buyback Plan Announced by Entravision Communications Corporation (NYSE:EVC)
Entravision Communications Corporation (NYSE:EVC) declared that its board has authorized a share repurchase program, which allows the company to buyback $15.00 million in outstanding shares on Wednesday, August 2nd, EventVestor reports. This buyback authorization allows the company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Entravision Communications Corporation (EVC) opened at 6.10 on Friday. The firm has a 50-day moving average of $6.55 and a 200 day moving average of $6.00. The firm has a market capitalization of $551.16 million, a price-to-earnings ratio of 30.50 and a beta of 1.50. Entravision Communications Corporation has a 12-month low of $4.90 and a 12-month high of $8.00.
Entravision Communications Corporation (NYSE:EVC) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $70.51 million for the quarter, compared to analysts’ expectations of $67.59 million. Entravision Communications Corporation had a return on equity of 10.15% and a net margin of 7.03%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. On average, equities analysts predict that Entravision Communications Corporation will post $3.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 14th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This is an increase from Entravision Communications Corporation’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.28%. Entravision Communications Corporation’s payout ratio is 61.90%.
A number of equities analysts recently weighed in on EVC shares. Zacks Investment Research upgraded shares of Entravision Communications Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Noble Financial reiterated a “buy” rating on shares of Entravision Communications Corporation in a report on Thursday, May 11th. Macquarie reiterated a “neutral” rating and issued a $7.00 target price on shares of Entravision Communications Corporation in a report on Tuesday, April 18th. Finally, BidaskClub lowered shares of Entravision Communications Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Entravision Communications Corporation has an average rating of “Hold” and a consensus price target of $7.00.
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Entravision Communications Corporation Company Profile
Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media.
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