$61.12 Million in Sales Expected for Salem Media Group Inc (SALM) This Quarter
Equities research analysts expect Salem Media Group Inc (NASDAQ:SALM) to post $61.12 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Salem Media Group’s earnings, with estimates ranging from $61.00 million to $61.24 million. Salem Media Group reported sales of $63.80 million during the same quarter last year, which indicates a negative year over year growth rate of 4.2%. The firm is expected to report its next quarterly earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Salem Media Group will report full-year sales of $254.18 million for the current financial year, with estimates ranging from $254.10 million to $254.26 million. For the next year, analysts expect that the business will report sales of $0.00. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Salem Media Group.
Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). The company had revenue of $67.19 million during the quarter, compared to analysts’ expectations of $66.50 million. Salem Media Group had a positive return on equity of 1.42% and a negative net margin of 1.21%.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Salem Media Group by 104.5% in the 4th quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock worth $60,000 after buying an additional 14,723 shares in the last quarter. Acadian Asset Management LLC increased its stake in Salem Media Group by 57.8% in the 4th quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock worth $78,000 after buying an additional 13,701 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Salem Media Group in the 4th quarter worth $211,000. North Star Investment Management Corp. increased its stake in Salem Media Group by 1.7% in the 4th quarter. North Star Investment Management Corp. now owns 387,290 shares of the company’s stock worth $809,000 after buying an additional 6,531 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in Salem Media Group by 55.9% in the 4th quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock worth $855,000 after buying an additional 146,564 shares in the last quarter. Institutional investors and hedge funds own 25.44% of the company’s stock.
Shares of NASDAQ:SALM traded down $0.07 during midday trading on Monday, hitting $2.05. The company had a trading volume of 59,113 shares, compared to its average volume of 36,520. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.83 and a quick ratio of 0.81. The firm has a market capitalization of $53.68 million, a price-to-earnings ratio of 22.78 and a beta of 1.67. Salem Media Group has a 12-month low of $2.03 and a 12-month high of $6.25.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 19th were paid a $0.065 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.26 annualized dividend and a dividend yield of 12.68%. Salem Media Group’s dividend payout ratio (DPR) is 288.89%.
Salem Media Group Company Profile
Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.
Read More: Dividend
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Salem Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group and related companies with MarketBeat.com's FREE daily email newsletter.