Entravision Communications Corporation (EVC) Downgraded by BidaskClub
Entravision Communications Corporation (NYSE:EVC) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
EVC has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Entravision Communications Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Macquarie reaffirmed a “hold” rating and issued a $7.00 target price on shares of Entravision Communications Corporation in a research report on Monday, July 24th. Finally, Noble Financial reaffirmed a “buy” rating on shares of Entravision Communications Corporation in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Entravision Communications Corporation currently has an average rating of “Hold” and a consensus target price of $7.00.
Shares of Entravision Communications Corporation (EVC) traded up 2.73% on Friday, hitting $5.65. 457,043 shares of the stock were exchanged. The company has a market cap of $510.86 million, a PE ratio of 28.25 and a beta of 1.50. The company has a 50-day moving average price of $6.38 and a 200 day moving average price of $6.04. Entravision Communications Corporation has a 12 month low of $4.90 and a 12 month high of $7.89.
Entravision Communications Corporation (NYSE:EVC) last released its earnings results on Wednesday, August 2nd. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $67.59 million. Entravision Communications Corporation had a return on equity of 10.05% and a net margin of 7.03%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Equities analysts forecast that Entravision Communications Corporation will post $0.15 EPS for the current fiscal year.
Entravision Communications Corporation announced that its board has authorized a share buyback program on Wednesday, August 2nd that allows the company to repurchase $15.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in Entravision Communications Corporation by 17.1% in the first quarter. Prudential Financial Inc. now owns 19,904 shares of the company’s stock worth $123,000 after buying an additional 2,900 shares in the last quarter. OLD National Bancorp IN acquired a new stake in Entravision Communications Corporation during the second quarter worth $132,000. KCG Holdings Inc. acquired a new stake in Entravision Communications Corporation during the first quarter worth $139,000. Malaga Cove Capital LLC increased its stake in shares of Entravision Communications Corporation by 6.6% in the first quarter. Malaga Cove Capital LLC now owns 24,300 shares of the company’s stock valued at $149,000 after buying an additional 1,500 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Entravision Communications Corporation during the first quarter valued at approximately $156,000. 62.39% of the stock is currently owned by hedge funds and other institutional investors.
Entravision Communications Corporation Company Profile
Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media.
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