Entercom Communications Corp. (NYSE:ETM) Upgraded to Hold at BidaskClub
Entercom Communications Corp. (NYSE:ETM) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.
Other equities analysts also recently issued reports about the company. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corp. in a research report on Monday, July 31st. TheStreet downgraded Entercom Communications Corp. from a “b” rating to a “c” rating in a research report on Monday, May 8th. Zacks Investment Research upgraded Entercom Communications Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, ValuEngine downgraded Entercom Communications Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Entercom Communications Corp. currently has a consensus rating of “Hold” and an average target price of $18.00.
Shares of Entercom Communications Corp. (ETM) opened at 10.20 on Friday. The company’s 50 day moving average price is $9.96 and its 200-day moving average price is $12.17. Entercom Communications Corp. has a 1-year low of $9.45 and a 1-year high of $16.55. The company has a market capitalization of $415.74 million, a price-to-earnings ratio of 22.87 and a beta of 1.17.
Entercom Communications Corp. (NYSE:ETM) last released its quarterly earnings results on Friday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.07. The firm had revenue of $125 million for the quarter, compared to the consensus estimate of $121.42 million. Entercom Communications Corp. had a return on equity of 5.67% and a net margin of 5.13%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. On average, equities analysts forecast that Entercom Communications Corp. will post $0.91 earnings per share for the current year.
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In related news, Chairman Joseph M. Field bought 219,073 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were bought at an average cost of $10.07 per share, for a total transaction of $2,206,065.11. Following the completion of the transaction, the chairman now owns 1,006,844 shares of the company’s stock, valued at $10,138,919.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph M. Field bought 135,832 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average price of $9.73 per share, for a total transaction of $1,321,645.36. Following the completion of the transaction, the chairman now directly owns 1,006,844 shares of the company’s stock, valued at approximately $9,796,592.12. The disclosure for this purchase can be found here. Insiders have purchased 583,087 shares of company stock worth $5,775,962 over the last quarter. 32.57% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC bought a new position in Entercom Communications Corp. during the second quarter valued at $134,000. Good Life Advisors LLC boosted its stake in Entercom Communications Corp. by 6.3% in the second quarter. Good Life Advisors LLC now owns 14,290 shares of the company’s stock worth $140,000 after buying an additional 842 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in Entercom Communications Corp. during the second quarter worth approximately $159,000. Bowling Portfolio Management LLC acquired a new stake in Entercom Communications Corp. during the first quarter worth approximately $193,000. Finally, American International Group Inc. boosted its stake in Entercom Communications Corp. by 7.1% in the first quarter. American International Group Inc. now owns 15,990 shares of the company’s stock worth $229,000 after buying an additional 1,065 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.
Entercom Communications Corp. 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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