Entercom Communications Corporation (ETM) Announces $0.09 Quarterly Dividend
Entercom Communications Corporation (NYSE:ETM) announced a quarterly dividend on Thursday, November 2nd, Zacks reports. Investors of record on Tuesday, November 28th will be given a dividend of 0.09 per share on Friday, December 15th. This represents a $0.36 annualized dividend and a yield of 3.27%. The ex-dividend date is Monday, November 27th.
Entercom Communications Corporation has a dividend payout ratio of 65.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Entercom Communications Corporation to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 30.3%.
Entercom Communications Corporation (NYSE:ETM) last announced its earnings results on Thursday, November 2nd. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $122.30 million for the quarter, compared to the consensus estimate of $120.76 million. Entercom Communications Corporation had a return on equity of 8.64% and a net margin of 2.69%. Entercom Communications Corporation’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS.
Entercom Communications Corporation declared that its Board of Directors has approved a stock repurchase program on Thursday, November 2nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 22.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently commented on ETM. Noble Financial reissued a “buy” rating on shares of Entercom Communications Corporation in a report on Monday, July 31st. BidaskClub raised Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 11th.
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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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