Noble Financial Reaffirms Buy Rating for Entravision Communications Corporation (EVC)
Entravision Communications Corporation (NYSE:EVC)‘s stock had its “buy” rating reissued by equities researchers at Noble Financial in a research note issued to investors on Friday.
Several other brokerages have also issued reports on EVC. Zacks Investment Research upgraded Entravision Communications Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub lowered Entravision Communications Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. ValuEngine raised shares of Entravision Communications Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Macquarie reaffirmed a “hold” rating and set a $7.00 price target on shares of Entravision Communications Corporation in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Entravision Communications Corporation presently has a consensus rating of “Hold” and an average price target of $7.00.
Entravision Communications Corporation (NYSE:EVC) opened at $5.10 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.70 and a quick ratio of 2.70. The stock has a market cap of $465.65 million, a PE ratio of 24.52 and a beta of 1.50.
Entravision Communications Corporation (NYSE:EVC) last announced its earnings results on Thursday, November 2nd. The company reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $1.69. Entravision Communications Corporation had a return on equity of 10.05% and a net margin of 7.03%. The business had revenue of $70.60 million during the quarter, compared to analyst estimates of $70.43 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. analysts forecast that Entravision Communications Corporation will post 0.09 earnings per share for the current fiscal year.
Entravision Communications Corporation announced that its board has authorized a stock buyback plan on Wednesday, August 2nd that authorizes the company to buyback $15.00 million in shares. This buyback authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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In related news, CRO Mario M. Carrera sold 70,702 shares of the business’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher T. Young sold 14,616 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was 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. Insiders own 20.72% of the company’s stock.
Large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its stake in Entravision Communications Corporation by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 242,561 shares of the company’s stock worth $1,601,000 after buying an additional 1,615 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Entravision Communications Corporation by 36.4% in the second quarter. TIAA CREF Investment Management LLC now owns 511,096 shares of the company’s stock worth $3,373,000 after buying an additional 136,405 shares in the last quarter. Thrivent Financial For Lutherans bought a new position in Entravision Communications Corporation in the second quarter worth approximately $523,000. Russell Investments Group Ltd. raised its stake in Entravision Communications Corporation by 59.7% in the second quarter. Russell Investments Group Ltd. now owns 594,175 shares of the company’s stock worth $3,922,000 after buying an additional 222,120 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Entravision Communications Corporation by 2.5% in the first quarter. Renaissance Technologies LLC now owns 1,965,552 shares of the company’s stock worth $12,186,000 after buying an additional 47,700 shares in the last quarter. 58.43% of the stock is owned by institutional investors.
About Entravision Communications Corporation
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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