Entercom Communications Corporation (ETM) Board Declares Share Repurchase Plan
Entercom Communications Corporation (NYSE:ETM) declared that its Board of Directors has authorized a stock repurchase plan, which authorizes the company to repurchase $100.00 million in outstanding shares on Thursday, November 2nd, EventVestor reports. This repurchase authorization authorizes the company to purchase up to 22.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Several brokerages have weighed in on ETM. BidaskClub upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a research note on Monday, July 31st.
Entercom Communications Corporation (NYSE:ETM) last posted its earnings results on Thursday, November 2nd. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13). Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.50%. The business had revenue of $122.30 million during the quarter, compared to analyst estimates of $120.76 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year.
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.
Receive News & Ratings for Entercom Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entercom Communications Corporation and related companies with MarketBeat.com's FREE daily email newsletter.