Entercom Communications Corp. (NYSE:ETM) announced its earnings results on Monday. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by $0.01. The company had revenue of $97.50 million for the quarter, compared to analyst estimates of $97.01 million. Entercom Communications Corp. had a return on equity of 9.34% and a net margin of 8.96%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share.
Entercom Communications Corp. (NYSE:ETM) traded up 0.52% during trading on Friday, reaching $9.70. 336,201 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $12.18 and its 200-day moving average price is $14.18. The firm has a market cap of $394.91 million, a price-to-earnings ratio of 17.14 and a beta of 1.30. Entercom Communications Corp. has a 12 month low of $9.60 and a 12 month high of $16.55.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 26th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, May 24th. This represents a $0.30 dividend on an annualized basis and a yield of 3.09%. Entercom Communications Corp.’s dividend payout ratio (DPR) is 30.61%.
ETM has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Entercom Communications Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 3rd. TheStreet downgraded shares of Entercom Communications Corp. from a “b” rating to a “c” rating in a report on Monday, May 8th. Finally, Noble Financial reissued a “buy” rating on shares of Entercom Communications Corp. in a research note on Thursday, May 11th.
In related news, Chairman Joseph M. Field bought 68,616 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $9.87 per share, for a total transaction of $677,239.92. Following the acquisition, the chairman now owns 1,006,844 shares of the company’s stock, valued at approximately $9,937,550.28. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Joseph M. Field acquired 135,832 shares of the stock in a transaction dated Thursday, May 18th. The stock was acquired at an average price of $9.73 per share, for a total transaction of $1,321,645.36. Following the completion of the acquisition, the chairman now directly owns 1,006,844 shares of the company’s stock, valued at $9,796,592.12. The disclosure for this purchase can be found here. Company insiders own 33.24% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Entercom Communications Corp. by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,638,220 shares of the company’s stock valued at $25,065,000 after buying an additional 85,118 shares in the last quarter. Oxford Asset Management boosted its position in Entercom Communications Corp. by 70.6% in the fourth quarter. Oxford Asset Management now owns 114,816 shares of the company’s stock valued at $1,757,000 after buying an additional 47,527 shares in the last quarter. State Street Corp boosted its position in Entercom Communications Corp. by 7.9% in the fourth quarter. State Street Corp now owns 436,208 shares of the company’s stock valued at $6,674,000 after buying an additional 31,840 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Entercom Communications Corp. by 3.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 20,300 shares of the company’s stock valued at $311,000 after buying an additional 720 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Entercom Communications Corp. during the fourth quarter valued at $465,000. Institutional investors own 43.90% of the company’s stock.
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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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