Entercom Communications Corp. (NYSE:ETM) Given Average Rating of “Hold” by Analysts

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Shares of Entercom Communications Corp. (NYSE:ETM) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.73.

Several research analysts have commented on the company. Zacks Investment Research downgraded Entercom Communications from a “buy” rating to a “sell” rating in a research note on Monday. ValuEngine downgraded Entercom Communications from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. B. Riley assumed coverage on Entercom Communications in a research note on Thursday, April 18th. They set a “buy” rating and a $7.75 target price for the company. Finally, TheStreet downgraded Entercom Communications from a “c” rating to a “d+” rating in a research note on Friday, March 29th.

In related news, Chairman Joseph M. Field bought 300,000 shares of Entercom Communications stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $5.89 per share, for a total transaction of $1,767,000.00. Following the completion of the acquisition, the chairman now directly owns 30,125 shares of the company’s stock, valued at approximately $177,436.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David J. Field bought 30,000 shares of Entercom Communications stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $5.85 per share, for a total transaction of $175,500.00. Following the completion of the acquisition, the chairman now directly owns 1,863,658 shares of the company’s stock, valued at $10,902,399.30. The disclosure for this purchase can be found here. Insiders bought 930,000 shares of company stock valued at $5,516,500 in the last ninety days. 14.04% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in shares of Entercom Communications by 42.8% in the 4th quarter. Rhumbline Advisers now owns 183,290 shares of the company’s stock worth $1,047,000 after acquiring an additional 54,956 shares during the period. Boston Partners lifted its stake in Entercom Communications by 5.8% during the fourth quarter. Boston Partners now owns 2,355,843 shares of the company’s stock valued at $13,451,000 after purchasing an additional 128,839 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Entercom Communications during the fourth quarter valued at approximately $1,512,000. Acadian Asset Management LLC acquired a new stake in Entercom Communications during the fourth quarter valued at approximately $29,000. Finally, California Public Employees Retirement System lifted its stake in Entercom Communications by 14.2% during the fourth quarter. California Public Employees Retirement System now owns 459,770 shares of the company’s stock valued at $2,625,000 after purchasing an additional 57,065 shares during the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.

NYSE ETM traded down $0.06 during trading on Tuesday, hitting $5.88. 22,853 shares of the company’s stock were exchanged, compared to its average volume of 1,037,702. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market capitalization of $837.12 million, a P/E ratio of 7.00 and a beta of 1.30. Entercom Communications has a fifty-two week low of $5.16 and a fifty-two week high of $8.60. The firm’s 50 day moving average price is $6.12.

Entercom Communications (NYSE:ETM) last issued its earnings results on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $309.01 million during the quarter, compared to the consensus estimate of $309.30 million. Entercom Communications had a positive return on equity of 5.89% and a negative net margin of 23.42%. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts predict that Entercom Communications will post 0.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend is Friday, June 14th. Entercom Communications’s dividend payout ratio is currently 42.86%.

Entercom Communications Company Profile

Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 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 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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