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.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/06/share-buyback-plan-announced-by-entravision-communications-corporation-nyseevc.html.

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.

Receive News & Ratings for Entravision Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entravision Communications Corporation and related companies with MarketBeat.com's FREE daily email newsletter.