Shares of Entercom Communications Corp. (NYSE:ETM) have earned a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.
Analysts have set a 12 month consensus target price of $14.00 for the company, according to Zacks. Zacks has also given Entercom Communications an industry rank of 217 out of 265 based on the ratings given to its competitors.
Separately, Noble Financial reiterated a “buy” rating on shares of Entercom Communications in a research report on Monday, November 27th.
Entercom Communications (NYSE:ETM) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Entercom Communications had a net margin of 2.69% and a return on equity of 8.67%. The company had revenue of $122.30 million during the quarter, compared to the consensus estimate of $120.76 million. During the same period last year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. equities research analysts expect that Entercom Communications will post 0.93 earnings per share for the current year.
Entercom Communications declared that its Board of Directors has authorized a share buyback program on Thursday, November 2nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.29%. Entercom Communications’s payout ratio is 138.46%.
In other Entercom Communications news, Chairman Joseph M. Field acquired 168,162 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was acquired at an average cost of $11.81 per share, with a total value of $1,985,993.22. Following the purchase, the chairman now directly owns 3,762,621 shares in the company, valued at approximately $44,436,554.01. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Joseph M. Field acquired 180,282 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were acquired at an average cost of $11.72 per share, with a total value of $2,112,905.04. Following the completion of the purchase, the chairman now owns 3,529,177 shares in the company, valued at $41,361,954.44. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 423,444 shares of company stock valued at $4,978,398. Corporate insiders own 32.57% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Entercom Communications by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 109,658 shares of the company’s stock worth $1,135,000 after purchasing an additional 627 shares in the last quarter. Good Life Advisors LLC grew its stake in Entercom Communications by 6.3% in the 2nd quarter. Good Life Advisors LLC now owns 14,290 shares of the company’s stock worth $140,000 after acquiring an additional 842 shares during the period. Bank of America Corp DE grew its stake in Entercom Communications by 1.3% in the 1st quarter. Bank of America Corp DE now owns 81,955 shares of the company’s stock worth $1,172,000 after acquiring an additional 1,032 shares during the period. Rhumbline Advisers grew its stake in Entercom Communications by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 34,558 shares of the company’s stock worth $358,000 after acquiring an additional 1,047 shares during the period. Finally, Teachers Advisors LLC grew its stake in Entercom Communications by 2.9% in the 1st quarter. Teachers Advisors LLC now owns 60,887 shares of the company’s stock worth $871,000 after acquiring an additional 1,744 shares during the period. 65.97% of the stock is owned by institutional investors and hedge funds.
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About Entercom Communications
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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