Entercom Communications (ETM) Rating Lowered to Hold at ValuEngine

Entercom Communications (NYSE:ETM) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Sunday.

Separately, Noble Financial reiterated a “buy” rating on shares of Entercom Communications in a research note on Monday, November 27th.

Entercom Communications (NYSE ETM) opened at $10.80 on Friday. Entercom Communications has a one year low of $9.45 and a one year high of $16.55. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.23. The firm has a market cap of $1,520.00, a P/E ratio of 43.20, a PEG ratio of 5.81 and a beta of 1.09.

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, topping the Thomson Reuters’ 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 firm had revenue of $122.30 million for the quarter, compared to analysts’ expectations of $120.76 million. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. research analysts expect that Entercom Communications will post 0.93 earnings per share for the current fiscal year.

Entercom Communications announced that its board has initiated a stock buyback program on Thursday, November 2nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 22.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

In other news, Chairman Joseph M. Field bought 50,000 shares of Entercom Communications stock in a transaction that occurred on Friday, November 24th. The stock was bought at an average cost of $11.79 per share, with a total value of $589,500.00. Following the acquisition, the chairman now owns 3,762,621 shares of the company’s stock, valued at approximately $44,361,301.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David J. Field bought 25,000 shares of Entercom Communications stock in a transaction that occurred on Friday, November 17th. The stock was purchased 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 disclosure for this purchase can be found here. Insiders purchased a total of 423,444 shares of company stock valued at $4,978,398 over the last three months. 32.57% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in ETM. Gruss Capital Management LP grew its holdings in Entercom Communications by 661.7% during the 3rd quarter. Gruss Capital Management LP now owns 1,409,235 shares of the company’s stock valued at $16,136,000 after buying an additional 1,224,235 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Entercom Communications during the 3rd quarter valued at approximately $9,455,000. WS Management Lllp purchased a new stake in Entercom Communications during the 3rd quarter valued at approximately $8,600,000. Rovida Advisors Inc. purchased a new stake in Entercom Communications during the 3rd quarter valued at approximately $6,521,000. Finally, Northern Trust Corp grew its holdings in Entercom Communications by 35.5% during the 2nd quarter. Northern Trust Corp now owns 1,465,228 shares of the company’s stock valued at $15,165,000 after buying an additional 383,788 shares in the last quarter. 65.75% of the stock is 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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