Brokerages Expect Entercom Communications Corporation (NYSE:ETM) to Announce $0.26 Earnings Per Share
Analysts predict that Entercom Communications Corporation (NYSE:ETM) will post $0.26 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Entercom Communications Corporation’s earnings. Entercom Communications Corporation reported earnings per share of $0.24 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The business is expected to report its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Entercom Communications Corporation will report full-year earnings of $0.55 per share for the current financial year. For the next fiscal year, analysts anticipate that the company will post earnings of $0.96 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Entercom Communications Corporation.
Entercom Communications Corporation (NYSE:ETM) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. Entercom Communications Corporation had a return on equity of 8.52% and a net margin of 4.27%. The firm had revenue of $125 million for the quarter, compared to analysts’ expectations of $121.42 million. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis.
Several equities analysts have recently weighed in on the company. Noble Financial reissued a “buy” rating on shares of Entercom Communications Corporation in a research report on Monday, July 31st. Zacks Investment Research upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. ValuEngine cut Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet cut Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th.
In other news, Chairman Joseph M. Field bought 4,793 shares of the stock in a transaction on Friday, June 16th. The stock was acquired at an average cost of $9.95 per share, for a total transaction of $47,690.35. Following the acquisition, the chairman now owns 1,006,844 shares of the company’s stock, valued at $10,018,097.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Joseph M. Field bought 68,616 shares of the stock in a transaction on Tuesday, May 16th. The stock was purchased at an average price of $9.87 per share, with a total value of $677,239.92. Following the completion of the acquisition, the chairman now directly owns 1,006,844 shares in the company, valued at approximately $9,937,550.28. The disclosure for this purchase can be found here. Insiders acquired a total of 583,087 shares of company stock valued at $5,775,962 over the last quarter. Company insiders own 32.57% of the company’s stock.
Several large investors have recently modified their holdings of the company. Marshall Wace North America L.P. purchased a new stake in shares of Entercom Communications Corporation during the second quarter valued at $2,281,000. BNP Paribas Arbitrage SA boosted its stake in shares of Entercom Communications Corporation by 9.5% in the second quarter. BNP Paribas Arbitrage SA now owns 33,088 shares of the company’s stock valued at $342,000 after buying an additional 2,883 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new stake in shares of Entercom Communications Corporation during the second quarter valued at $414,000. Rhumbline Advisers raised its position in Entercom Communications Corporation by 3.1% in the second quarter. Rhumbline Advisers now owns 34,558 shares of the company’s stock valued at $358,000 after buying an additional 1,047 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Entercom Communications Corporation by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 109,658 shares of the company’s stock valued at $1,135,000 after buying an additional 627 shares during the last quarter. Institutional investors and hedge funds own 49.99% of the company’s stock.
Shares of Entercom Communications Corporation (NYSE ETM) traded down 1.55% during midday trading on Friday, hitting $9.55. The stock had a trading volume of 268,957 shares. Entercom Communications Corporation has a 12 month low of $9.50 and a 12 month high of $16.55. The firm has a market cap of $388.80 million, a price-to-earnings ratio of 21.41 and a beta of 1.17. The stock’s 50 day moving average price is $10.01 and its 200 day moving average price is $12.38.
The company also recently announced a dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 15th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 11th. Entercom Communications Corporation’s dividend payout ratio is 66.67%.
Entercom Communications Corporation Company Profile
Entercom Communications Corp. is a radio broadcasting company. The Company sells advertising time to local, regional and national advertisers and national network advertisers, purchasing spot commercials in varying lengths. It focuses on station-related digital platforms, which allow for audience interaction and participation, and integrated local digital marketing solutions and station events.
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