Brokerages Expect Salem Media Group Inc (SALM) to Post -$0.02 EPS

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Wall Street analysts predict that Salem Media Group Inc (NASDAQ:SALM) will report ($0.02) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Salem Media Group’s earnings. The lowest EPS estimate is ($0.08) and the highest is $0.04. Salem Media Group posted earnings of $0.03 per share in the same quarter last year, which would suggest a negative year over year growth rate of 166.7%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Salem Media Group will report full year earnings of $0.09 per share for the current fiscal year, with EPS estimates ranging from $0.04 to $0.14. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Salem Media Group.

Salem Media Group (NASDAQ:SALM) last released its earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $67.19 million during the quarter, compared to analyst estimates of $66.50 million. Salem Media Group had a negative net margin of 1.21% and a positive return on equity of 1.42%.

SALM has been the subject of several research reports. ValuEngine raised Salem Media Group from a “strong sell” rating to a “sell” rating in a research report on Friday, January 4th. Noble Financial raised Salem Media Group from a “market perform” rating to an “outperform” rating and set a $3.50 target price for the company in a research report on Tuesday, January 15th. Zacks Investment Research raised Salem Media Group from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Thursday, January 17th. TheStreet upgraded Salem Media Group from a “d+” rating to a “c-” rating in a research note on Tuesday, March 12th. Finally, Singular Research reiterated a “buy” rating on shares of Salem Media Group in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Salem Media Group presently has a consensus rating of “Hold” and a consensus price target of $3.25.

NASDAQ SALM opened at $2.19 on Friday. The stock has a market capitalization of $61.01 million, a price-to-earnings ratio of 24.33 and a beta of 1.67. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.83 and a quick ratio of 0.81. Salem Media Group has a 1-year low of $2.03 and a 1-year 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. This represents a $0.26 annualized dividend and a dividend yield of 11.87%. The ex-dividend date of this dividend was Monday, March 18th. Salem Media Group’s payout ratio is presently 288.89%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. North Star Investment Management Corp. boosted its stake in shares of 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 valued at $809,000 after buying an additional 6,531 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Salem Media Group by 57.8% in the 4th quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock valued at $78,000 after buying an additional 13,701 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $60,000 after buying an additional 14,723 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Salem Media Group by 4.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,281,706 shares of the company’s stock valued at $4,358,000 after buying an additional 57,252 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Salem Media Group in the 4th quarter valued at about $211,000. Institutional investors and hedge funds own 25.44% of the company’s stock.

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.

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