Salem Communications Corp. Lowered to “Neutral” at Zacks (SALM)
Salem Communications Corp. (NASDAQ:SALM) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, AnalystRatingsNetwork reports. They currently have a $10.30 target price on the stock. Zacks‘ price objective would suggest a potential upside of 11.35% from the company’s current price.
Salem Communications Corp. (NASDAQ:SALM) traded down 0.54% on Tuesday, hitting $9.20. The stock had a trading volume of 14,446 shares. Salem Communications Corp. has a 52 week low of $5.24 and a 52 week high of $10.14. The stock’s 50-day moving average is $9.02 and its 200-day moving average is $8.29. The company’s market cap is $229.2 million.
Salem Communications Corp. (NASDAQ:SALM) last announced its earnings results on Tuesday, November 5th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.09. The company had revenue of $58.50 million for the quarter, compared to the consensus estimate of $57.41 million. On average, analysts predict that Salem Communications Corp. will post $-0.21 earnings per share for the current fiscal year.
Salem Communications Corporation (NASDAQ:SALM) is a domestic multi-media company with integrated business operations covering radio broadcasting, publishing and the Internet.
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