Zacks: Entercom Communications Corp. (ETM) Given $8.00 Consensus Price Target by Analysts
Shares of Entercom Communications Corp. (NYSE:ETM) have earned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating. Entercom Communications’ rating score has declined by 28.8% from three months ago as a result of a number of analysts’ ratings changes.
Brokerages have set a twelve-month consensus price target of $8.00 for the company, according to Zacks. Zacks has also assigned Entercom Communications an industry rank of 104 out of 255 based on the ratings given to related companies.
A number of research firms have recently commented on ETM. Zacks Investment Research cut Entercom Communications from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 10th. ValuEngine upgraded Entercom Communications from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Stephens lowered their price target on Entercom Communications from $12.00 to $8.00 and set a “hold” rating for the company in a report on Monday, June 4th.
Entercom Communications (NYSE:ETM) last released its earnings results on Wednesday, August 8th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.40. The firm had revenue of $372.10 million for the quarter, compared to analysts’ expectations of $379.40 million. Entercom Communications had a negative return on equity of 1.62% and a net margin of 21.63%. The company’s quarterly revenue was up 197.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. analysts predict that Entercom Communications will post 1.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 24th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Thursday, August 23rd. Entercom Communications’s payout ratio is -80.00%.
In other news, Chairman Joseph M. Field bought 370,000 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The shares were purchased at an average cost of $7.79 per share, with a total value of $2,882,300.00. Following the transaction, the chairman now directly owns 3,538,937 shares in the company, valued at $27,568,319.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 32.57% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Entercom Communications by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,082 shares of the company’s stock valued at $10,095,000 after acquiring an additional 53,811 shares during the period. Nomura Holdings Inc. acquired a new stake in Entercom Communications during the 2nd quarter worth about $756,000. MetLife Investment Advisors LLC grew its position in Entercom Communications by 21.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 59,780 shares of the company’s stock worth $451,000 after purchasing an additional 10,507 shares during the period. Tower Research Capital LLC TRC grew its position in Entercom Communications by 421.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 49,325 shares of the company’s stock worth $372,000 after purchasing an additional 39,857 shares during the period. Finally, Raymond James & Associates grew its position in Entercom Communications by 9.3% during the 2nd quarter. Raymond James & Associates now owns 614,363 shares of the company’s stock worth $4,638,000 after purchasing an additional 52,440 shares during the period. 85.60% of the stock is currently owned by hedge funds and other institutional investors.
Entercom Communications Company Profile
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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