Entercom Communications Corp. (ETM) Releases Earnings Results, Misses Expectations By $0.01 EPS

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.

Earnings History for Entercom Communications Corp. (NYSE:ETM)

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.

ILLEGAL ACTIVITY WARNING: “Entercom Communications Corp. (ETM) Releases Earnings Results, Misses Expectations By $0.01 EPS” was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.chaffeybreeze.com/2017/05/20/entercom-communications-corp-etm-releases-quarterly-earnings-results-misses-expectations-by-0-01-eps-updated.html.

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.

12 Month Chart for NYSE:ETM

Receive News & Ratings for Entercom Communications Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entercom Communications Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply