Entravision Communications Corporation (EVC) Releases Quarterly Earnings Results, Beats Estimates By $1.69 EPS
Entravision Communications Corporation (NYSE:EVC) released its quarterly earnings data on Thursday. The company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $1.69, Briefing.com reports. The firm had revenue of $70.60 million for the quarter, compared to the consensus estimate of $70.43 million. Entravision Communications Corporation had a return on equity of 10.05% and a net margin of 7.03%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share.
Shares of Entravision Communications Corporation (NYSE EVC) traded down $0.15 during trading hours on Friday, reaching $5.10. The company had a trading volume of 592,737 shares, compared to its average volume of 310,847. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 1.50. The company has a market cap of $465.65 million, a PE ratio of 24.52 and a beta of 1.50.
Several research firms have recently commented on EVC. BidaskClub upgraded Entravision Communications Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Macquarie reiterated a “hold” rating and issued a $7.00 price objective on shares of Entravision Communications Corporation in a report on Monday, July 24th. Zacks Investment Research upgraded Entravision Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Noble Financial reiterated a “buy” rating on shares of Entravision Communications Corporation in a report on Thursday, August 3rd. Finally, ValuEngine upgraded Entravision Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Entravision Communications Corporation currently has an average rating of “Hold” and a consensus price target of $7.00.
Entravision Communications Corporation declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 2nd that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, CRO Mario M. Carrera sold 70,702 shares of Entravision Communications Corporation stock in a transaction on Monday, August 28th. The shares were sold at an average price of $5.63, for a total value of $398,052.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher T. Young sold 14,616 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $5.55, for a total transaction of $81,118.80. The disclosure for this sale can be found here. 20.72% of the stock is currently owned by insiders.
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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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