Entercom Communications Corp. (ETM) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Entercom Communications Corp. (NYSE:ETM) issued its quarterly earnings data on Thursday. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02, Bloomberg Earnings reports. Entercom Communications Corp. had a return on equity of 8.64% and a net margin of 2.69%. The company had revenue of $122.30 million during the quarter, compared to analyst estimates of $120.76 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Entercom Communications Corp.’s revenue was up .6% on a year-over-year basis.
Shares of Entercom Communications Corp. (NYSE ETM) traded down $0.05 during midday trading on Friday, hitting $10.70. The stock had a trading volume of 5,833,054 shares, compared to its average volume of 1,946,787. Entercom Communications Corp. has a 52 week low of $9.45 and a 52 week high of $16.55. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $436.13 million, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 11.96 and a beta of 1.09.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Monday, November 27th. Entercom Communications Corp.’s payout ratio is 63.83%.
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ETM has been the subject of several recent analyst reports. Noble Financial reissued a “buy” rating on shares of Entercom Communications Corp. in a report on Monday, July 31st. BidaskClub raised Entercom Communications Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 11th.
Entercom Communications Corp. declared that its Board of Directors has approved a stock buyback program on Thursday, November 2nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 22.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
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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