Salem Communications Corp. Insider David Evans Sells 1,225 Shares (SALM)
Salem Communications Corp. (NASDAQ:SALM) Insider David Evans sold 1,225 shares of Salem Communications Corp. stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $8.25, for a total value of $10,106.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Salem Communications Corp. (NASDAQ:SALM) from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, July 12th. They now have a $8.10 price target on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Salem Communications Corp. (NASDAQ:SALM) from a “hold” rating to a “sell” rating in a research note to investors on Monday, July 8th.
Shares of Salem Communications Corp. (NASDAQ:SALM) traded up 0.48% on Wednesday, hitting $8.38. The stock had a trading volume of 32,203 shares. Salem Communications Corp. has a 52 week low of $4.62 and a 52 week high of $10.14. The stock has a 50-day moving average of $7.9 and a 200-day moving average of $7.9. The company’s market cap is $207.9 million.
Salem Communications Corp. (NASDAQ:SALM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.07. The company had revenue of $60.10 million for the quarter, compared to the consensus estimate of $59.30 million. Analysts expect that Salem Communications Corp. will post $-0.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 4th. Investors of record on Thursday, September 26th will be paid a dividend of $0.05 per share. This represents a $0.21 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Tuesday, September 24th. This is an increase from Salem Communications Corp.’s previous quarterly dividend of $0.05.
Salem Communications Corporation (NASDAQ:SALM) is a domestic multi-media company with integrated business operations covering radio broadcasting, publishing and the Internet.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.