Zacks: Entercom Communications Corp. (ETM) Given $14.00 Consensus Target Price by Analysts

Entercom Communications Corp. (NYSE:ETM) has earned a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have given a strong buy recommendation to the company.

Brokers have set a 1 year consensus price objective of $14.00 for the company, according to Zacks. Zacks has also assigned Entercom Communications an industry rank of 186 out of 265 based on the ratings given to related companies.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Entercom Communications from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, January 29th. ValuEngine downgraded shares of Entercom Communications from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Noble Financial reissued a “buy” rating on shares of Entercom Communications in a research note on Monday, November 27th.

Shares of Entercom Communications (NYSE:ETM) traded down $0.08 during trading on Wednesday, hitting $10.02. The stock had a trading volume of 1,100,931 shares, compared to its average volume of 2,805,446. The stock has a market capitalization of $405.25, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 4.40 and a beta of 0.99. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 1.23. Entercom Communications has a 52-week low of $9.45 and a 52-week high of $16.30.

Entercom Communications (NYSE:ETM) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The firm had revenue of $122.30 million during the quarter, compared to analyst estimates of $120.76 million. Entercom Communications had a return on equity of 8.67% and a net margin of 2.69%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. sell-side analysts forecast that Entercom Communications will post 0.93 earnings per share for the current fiscal year.

Entercom Communications declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 2nd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other Entercom Communications news, insider David J. Field acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average cost of $11.60 per share, with a total value of $290,000.00. Following the completion of the acquisition, the insider now directly owns 1,823,072 shares in the company, valued at approximately $21,147,635.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Joseph M. Field acquired 180,282 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average cost of $11.72 per share, for a total transaction of $2,112,905.04. Following the completion of the acquisition, the chairman now owns 3,529,177 shares of the company’s stock, valued at $41,361,954.44. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 423,444 shares of company stock worth $4,978,398. 32.57% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of ETM. Tower Research Capital LLC TRC purchased a new position in Entercom Communications in the second quarter worth $122,000. Virtu KCG Holdings LLC purchased a new stake in shares of Entercom Communications during the second quarter valued at $159,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Entercom Communications during the third quarter valued at $186,000. Voya Investment Management LLC grew its holdings in shares of Entercom Communications by 14.0% during the second quarter. Voya Investment Management LLC now owns 19,392 shares of the company’s stock valued at $201,000 after buying an additional 2,383 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its holdings in shares of Entercom Communications by 46.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 22,707 shares of the company’s stock valued at $245,000 after buying an additional 7,174 shares during the last quarter. 69.66% of the stock is currently owned by institutional investors.

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Entercom Communications 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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