Entravision Communications (NYSE:EVC) Hits New 52-Week High – What’s Next?

Entravision Communications Corporation (NYSE:EVC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $10.24 and last traded at $10.2090, with a volume of 856225 shares. The stock had previously closed at $9.87.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EVC. Wall Street Zen raised shares of Entravision Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Entravision Communications in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Entravision Communications Stock Performance

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -50.66 and a beta of 1.81. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a 50-day simple moving average of $7.53 and a two-hundred day simple moving average of $4.64.

Entravision Communications (NYSE:EVC) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $196.97 million for the quarter, compared to analysts’ expectations of $121.49 million. Entravision Communications had a negative net margin of 3.41% and a negative return on equity of 25.31%.

Entravision Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Entravision Communications’s dividend payout ratio is -90.91%.

Insider Activity at Entravision Communications

In other Entravision Communications news, Director Paul A. Zevnik sold 324,686 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.67, for a total value of $3,139,713.62. Following the completion of the transaction, the director owned 2,107,582 shares in the company, valued at $20,380,317.94. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Alexandra Seros sold 685,111 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $8.71, for a total value of $5,967,316.81. Following the sale, the insider directly owned 8,974,750 shares in the company, valued at $78,170,072.50. This represents a 7.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,821,690 shares of company stock valued at $39,075,784 in the last three months. 8.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entravision Communications

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in Entravision Communications by 86.4% in the third quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company’s stock valued at $29,000 after buying an additional 5,702 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Entravision Communications by 7.1% during the 2nd quarter. Rhumbline Advisers now owns 91,341 shares of the company’s stock worth $212,000 after acquiring an additional 6,063 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Entravision Communications by 35.7% during the 1st quarter. MetLife Investment Management LLC now owns 26,568 shares of the company’s stock worth $56,000 after acquiring an additional 6,991 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Entravision Communications by 78.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,372 shares of the company’s stock valued at $40,000 after acquiring an additional 7,642 shares during the last quarter. Finally, R Squared Ltd raised its position in shares of Entravision Communications by 40.6% during the 3rd quarter. R Squared Ltd now owns 26,963 shares of the company’s stock worth $63,000 after acquiring an additional 7,784 shares in the last quarter. 69.46% of the stock is owned by hedge funds and other institutional investors.

About Entravision Communications

Entravision Communications Corporation (NYSE: EVC) is a diversified Spanish-language media and advertising company headquartered in Santa Monica, California. The company develops and distributes multimedia content tailored to Hispanic audiences across the United States, leveraging a combination of traditional broadcasting and digital platforms to reach consumers and marketers seeking to engage this fast-growing demographic.

In its broadcasting segment, Entravision owns and operates more than 50 television stations affiliated primarily with leading Spanish-language networks, as well as over 40 radio stations in key U.S.