Entercom Communications (NYSE:ETM) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Entercom Communications (NYSE:ETM) released its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.09), Briefing.com reports. Entercom Communications had a positive return on equity of 7.96% and a negative net margin of 21.69%. The company had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $386.57 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year.

ETM stock opened at $3.59 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.85 and a debt-to-equity ratio of 1.46. The firm has a market cap of $519.09 million, a P/E ratio of 4.27 and a beta of 1.21. Entercom Communications has a 12-month low of $2.94 and a 12-month high of $8.30. The stock’s 50 day simple moving average is $5.40 and its 200 day simple moving average is $6.06.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, August 28th. Entercom Communications’s dividend payout ratio is currently 42.86%.

In other Entercom Communications news, Chairman David J. Field purchased 30,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $5.85 per share, with a total value of $175,500.00. Following the completion of the purchase, the chairman now owns 1,863,658 shares in the company, valued at approximately $10,902,399.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard J. Schmaeling purchased 55,676 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $3.61 per share, with a total value of $200,990.36. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,256,202 shares of company stock worth $7,295,969. Corporate insiders own 14.04% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ETM. Anderson Fisher LLC purchased a new stake in Entercom Communications in the 2nd quarter worth about $78,000. Factorial Partners LLC lifted its stake in Entercom Communications by 9.7% in the 2nd quarter. Factorial Partners LLC now owns 34,000 shares of the company’s stock worth $197,000 after acquiring an additional 3,000 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Entercom Communications in the 2nd quarter worth about $5,093,000. UBS Asset Management Americas Inc. lifted its stake in Entercom Communications by 54.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 121,535 shares of the company’s stock worth $705,000 after acquiring an additional 42,662 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Entercom Communications in the 2nd quarter worth about $111,000. 79.51% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on the company. Zacks Investment Research raised Entercom Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. ValuEngine lowered Entercom Communications from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Finally, B. Riley assumed coverage on Entercom Communications in a research report on Thursday, April 18th. They issued a “buy” rating and a $7.75 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $5.14.

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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

Earnings History for Entercom Communications (NYSE:ETM)

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