Zacks Investment Research upgraded shares of Entercom Communications (NYSE:ETM) from a strong sell rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $8.75 price target on the stock.

According to Zacks, “Entercom Communications is the fourth largest radio broadcasting company in the United States. The company has built a highly consolidated portfolio of radio stations concentrated primarily in top 50 markets with above average growth characteristics. The company’s portfolio of radio stations is geographically diverse and offers a wide variety of programming formats. The company believes that geographic diversity will reduce the effect of economic downturn, while wide range of programming formats lessens the impact of changes in listening preferences. “

A number of other equities analysts also recently weighed in on ETM. ValuEngine raised shares of Entercom Communications from a sell rating to a hold rating in a research note on Tuesday. Noble Financial downgraded shares of Entercom Communications from a buy rating to a hold rating in a research note on Wednesday, May 9th. Finally, Stephens dropped their target price on shares of Entercom Communications from $12.00 to $8.00 and set a hold rating for the company in a research note on Monday, June 4th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $8.38.

Shares of NYSE ETM remained flat at $$8.00 during trading on Tuesday. 1,822,849 shares of the company’s stock were exchanged, compared to its average volume of 1,570,589. Entercom Communications has a one year low of $6.30 and a one year high of $12.43. The company has a market capitalization of $1.14 billion, a P/E ratio of -17.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.65 and a current ratio of 1.65.

Entercom Communications (NYSE:ETM) last announced its earnings results on Tuesday, May 8th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.17). Entercom Communications had a negative return on equity of 1.44% and a net margin of 28.86%. The company had revenue of $300.60 million during the quarter, compared to the consensus estimate of $316.70 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The company’s revenue was up 208.3% on a year-over-year basis. research analysts expect that Entercom Communications will post 0.99 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 28th. Investors of record on Wednesday, June 13th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Tuesday, June 12th. Entercom Communications’s dividend payout ratio (DPR) is -80.00%.

In other Entercom Communications news, CRO Robert E. Philips purchased 6,289 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The stock was acquired at an average cost of $7.95 per share, with a total value of $49,997.55. Following the completion of the purchase, the executive now directly owns 71,224 shares in the company, valued at approximately $566,230.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joseph M. Field purchased 415,125 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The shares were acquired at an average cost of $9.65 per share, with a total value of $4,005,956.25. Following the completion of the purchase, the chairman now owns 6,071,022 shares of the company’s stock, valued at $58,585,362.30. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,387,038 shares of company stock valued at $19,294,624. 32.57% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd raised its stake in shares of Entercom Communications by 149.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 37,273 shares of the company’s stock worth $360,000 after buying an additional 22,354 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of Entercom Communications by 32.1% during the first quarter. Suntrust Banks Inc. now owns 42,373 shares of the company’s stock worth $407,000 after buying an additional 10,301 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Entercom Communications by 13.2% during the first quarter. Principal Financial Group Inc. now owns 6,203,437 shares of the company’s stock worth $59,864,000 after buying an additional 723,811 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Entercom Communications by 82.3% during the first quarter. Xact Kapitalforvaltning AB now owns 23,700 shares of the company’s stock worth $229,000 after buying an additional 10,700 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new stake in shares of Entercom Communications during the first quarter worth approximately $2,033,000. 84.14% of the stock is owned by institutional investors and hedge funds.

About Entercom Communications

Entercom Communications Corp. operates as a radio broadcasting company in the United States. The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. As of February 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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