ETM has been the subject of several other reports. ValuEngine downgraded Entercom Communications from a buy rating to a hold rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Entercom Communications from a strong sell rating to a hold rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $12.00.
Entercom Communications (NYSE ETM) traded up $0.20 during trading on Friday, reaching $10.00. The company’s stock had a trading volume of 2,755,856 shares, compared to its average volume of 1,932,379. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $399.14, a P/E ratio of 3.88, a PEG ratio of 4.34 and a beta of 1.06. Entercom Communications has a 1 year low of $9.40 and a 1 year high of $14.55.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be given a $0.09 dividend. The ex-dividend date is Tuesday, March 13th. This represents a $0.36 annualized dividend and a yield of 3.60%. Entercom Communications’s dividend payout ratio is presently 13.95%.
Hedge funds have recently modified their holdings of the company. Gruss Capital Management LP increased its stake in shares of Entercom Communications by 661.7% in the third quarter. Gruss Capital Management LP now owns 1,409,235 shares of the company’s stock valued at $16,136,000 after buying an additional 1,224,235 shares during the period. Wells Fargo & Company MN increased its stake in shares of Entercom Communications by 25.5% in the second quarter. Wells Fargo & Company MN now owns 50,606 shares of the company’s stock valued at $523,000 after buying an additional 10,281 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Entercom Communications in the third quarter valued at about $1,639,000. Mcclain Value Management LLC acquired a new stake in shares of Entercom Communications in the fourth quarter valued at about $4,124,000. Finally, Emerald Advisers Inc. PA acquired a new stake in shares of Entercom Communications in the fourth quarter valued at about $9,233,000.
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About Entercom Communications
Entercom Communications Corp. is a radio broadcasting company. The Company sells advertising time to local, regional and national advertisers and national network advertisers, purchasing spot commercials in varying lengths. It focuses on station-related digital platforms, which allow for audience interaction and participation, and integrated local digital marketing solutions and station events.
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