Zacks: Brokerages Anticipate Entercom Communications Corporation (ETM) Will Post Quarterly Sales of $121.31 Million
Brokerages expect Entercom Communications Corporation (NYSE:ETM) to announce $121.31 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Entercom Communications Corporation’s earnings, with the lowest sales estimate coming in at $120.90 million and the highest estimate coming in at $121.72 million. Entercom Communications Corporation reported sales of $120.46 million in the same quarter last year, which indicates a positive year over year growth rate of 0.7%. The company is scheduled to announce its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Entercom Communications Corporation will report full-year sales of $121.31 million for the current fiscal year, with estimates ranging from $467.30 million to $470.96 million. For the next financial year, analysts anticipate that the company will post sales of $476.08 million per share, with estimates ranging from $469.60 million to $482.56 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Entercom Communications Corporation.
Entercom Communications Corporation (NYSE:ETM) last issued its earnings results on Friday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. The business had revenue of $125 million for the quarter, compared to analyst estimates of $121.42 million. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.52%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS.
ETM has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Entercom Communications Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 3rd. TheStreet downgraded shares of Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. Noble Financial reaffirmed a “buy” rating on shares of Entercom Communications Corporation in a report on Thursday, May 11th. Finally, ValuEngine downgraded shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
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Shares of Entercom Communications Corporation (NYSE:ETM) opened at 9.50 on Tuesday. Entercom Communications Corporation has a 1-year low of $9.45 and a 1-year high of $16.55. The company’s 50-day moving average is $10.01 and its 200 day moving average is $12.38. The firm has a market cap of $386.76 million, a price-to-earnings ratio of 21.30 and a beta of 1.17.
The firm also recently disclosed a dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, August 11th. Entercom Communications Corporation’s payout ratio is 66.67%.
In other Entercom Communications Corporation news, Chairman Joseph M. Field acquired 135,832 shares of Entercom Communications Corporation stock in a transaction dated Thursday, May 18th. The stock was bought at an average cost of $9.73 per share, with a total value of $1,321,645.36. Following the acquisition, the chairman now owns 1,006,844 shares of the company’s stock, valued at $9,796,592.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joseph M. Field acquired 4,793 shares of Entercom Communications Corporation stock in a transaction dated Friday, June 16th. The shares were acquired at an average cost of $9.95 per share, with a total value of $47,690.35. Following the completion of the acquisition, the chairman now directly owns 1,006,844 shares in the company, valued at approximately $10,018,097.80. The disclosure for this purchase can be found here. Insiders have bought a total of 583,087 shares of company stock valued at $5,775,962 over the last ninety days. 32.57% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ETM. Russell Investments Group Ltd. acquired a new position in Entercom Communications Corporation during the fourth quarter worth approximately $465,000. State Board of Administration of Florida Retirement System increased its position in Entercom Communications Corporation by 3.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 20,300 shares of the company’s stock worth $311,000 after buying an additional 720 shares during the last quarter. State Street Corp increased its position in Entercom Communications Corporation by 7.9% in the fourth quarter. State Street Corp now owns 436,208 shares of the company’s stock worth $6,674,000 after buying an additional 31,840 shares during the last quarter. Renaissance Technologies LLC increased its position in Entercom Communications Corporation by 566.0% in the fourth quarter. Renaissance Technologies LLC now owns 211,133 shares of the company’s stock worth $3,230,000 after buying an additional 179,433 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Entercom Communications Corporation by 31,901.0% in the first quarter. Bank of Montreal Can now owns 245,768 shares of the company’s stock worth $3,515,000 after buying an additional 245,000 shares during the last quarter. 49.55% of the stock is owned by institutional investors.
About Entercom Communications Corporation
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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